Making Waves: Subsea 7 Gets Hooked on the Hornsea 3 Project
Welcome, readers! Today, we’ve got a tale that’s as riveting as watching paint dry – but this time, the paint is made of wind! Subsea 7 has just been awarded a substantial contract by Ørsted for their offshore wind project, Hornsea 3. And let me tell you, this is not your average day at the office. Get ready to dive into the deep end of energy industry contracts!
The Nitty-Gritty of the Deal
Now, you might be sitting there thinking, “Subsea what now?” Relax, I’ve got your back like a good flotation device. Seaway7, happily swimming under the umbrella of Subsea 7, scored a juicy contract worth between USD 150 million and USD 300 million. That’s right—substantial indeed! No one says ‘substantial’ like those guys; it’s like they have a font dedicated to it.
The contract involves the transport and installation of a jaw-dropping 192 inter-array cables, each a dainty 66kV and stretching to a combined length of about 500 kilometres. Just imagine, 500 kilometers! That’s not just nipping down to the corner shop; that’s a proper expedition! Offshore activities are set to commence in 2026, so put on your time-travel helmets—we’re going to the future! 🚀
What Does This Mean for Us, the Little People?
Why should we care about cable installations in the North Sea? Because folks, this is where the magic happens! Hornsea 3 is part of Ørsted’s ambitious plan to harness wind energy on a scale that’ll make your head spin faster than a turbine. We’re talking about powering homes, jobs, and a cleaner environment. It’s like the Avengers of renewable energy! Save the planet one windy day at a time, right? 🌍💨
Subsea 7: The Unsung Heroes of the Deep Blue
Subsea 7 is strutting its stuff as a global leader in offshore projects. They claim to create sustainable value while making sure they remain the preferred partner and employer. That’s corporate-speak for “We throw the best office parties.” Seriously, who wouldn’t want to work with a company that dances like nobody’s watching and sings like it’s karaoke night? 🎤
In Conclusion… Or Is It Just the Start?
So there you have it! Subsea 7 has landed a hefty contract, and while we won’t be diving into the North Sea ourselves, we can appreciate just how monumental this little (read: HUGE) piece of news is for the future of renewable energy in the UK! As they say, every cable counts when you’re trying to save the planet.
So, let’s keep an eye on those horns in Hornsea—because if they blow, there could be some serious action happening above and below the waves!
Need More Information? Contact the Experts!
For investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel: +44 (0)20 8210 5568
Email: [email protected]
For media enquiries:
Nikki Beales
Communications Manager, Seaway7
Tel: +44 (0)7843895292
Email: [email protected]
Website: www.seaway7.com
Luxembourg – 29 October 2024 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) has formally announced the successful awarding of a significant contract to its subsidiary, Seaway7, by Ørsted. This contract pertains to the comprehensive transport and installation of inter-array cables for the ambitious Hornsea 3 offshore wind project, which is strategically situated in the UK’s North Sea sector.
Seaway7’s extensive scope encompasses the transport and installation (T&I) of an impressive 192 66kV inter-array cables, collectively spanning approximately 500 kilometres. Notably, the offshore operations related to this project are projected to kick off in 2026, aligning with Ørsted’s broader renewable energy goals.
Subsea7 characterizes a substantial contract as valued between USD 150 million and USD 300 million, indicating the significant scale and impact of this project within the energy sector.
Subsea7 stands as a global leader in delivering innovative offshore projects and services, catering to the evolving demands of the energy industry. The company is committed to creating sustainable value by being recognized as the partner and employer of choice, efficiently providing offshore solutions that are crucial for the world’s energy needs.
Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 (0)20 8210 5568
[email protected]
Contact for media enquiries:
Nikki Beales
Communications Manager, Seaway7
Tel +44 (0)7843895292
[email protected]
www.seaway7.com
