Our vision

To make possible the global delivery of offshore energy for today and tomorrow.

Learn about our vision

Order Intake

2023: $7.4bn

2022: $7.1bn
Revenue

2023: $6.0bn

2022: $5.1bn
EBITDA

2023: $714m

2022: $559m

Subsea and Conventional

Renewables
2023

2022

Our world

Subsea7 creates sustainable value by delivering the offshore energy transition solution the world needs.

Our strategy

We create sustainable value by delivering the offshore energy transition solutions the world needs.

Explore our strategy

How we make possible

Early engagement and system innovation
Collaboration and partnerships
Integrated services
Sustainable delivery
Digital solutions
Enabling-products

Dividends and Share Repurchases

>$2bn

over the past 12 years

$112m

dividend, paid in 2023

≥$1bn

dividends and share repurchases
in 2024-2027

Chairman’s Statement

“We have a strong position across the offshore energy landscape from subsea oil and gas, carbon capture and fixed offshore wind, to emerging energy sources. We are playing a key role in supporting our stakeholders, and the world, in achieving its energy transition goals.”

- Kristian Siem, Chairman

Download Chairman's Statement View Board of Directors

Chief Executive Officer's Review

“Our Subsea and Conventional business delivered strong, quality backlog growth that should underpin increasing cash flow in the years ahead. In our Renewables business, profitability has recovered and our backlog of work supports high activity through 2024 and 2025.”

- John Evans, Chief Executive Officer

Download Chief Executive Officer's Review View Executive Management Team

Our Business Model

Delivering projects large and small across the energy lifecycle.
1,000+ projects successfully completed around the world.

Concept

Input at the concept phase allows for optimisation of later lifecycle stages.

Design

Robust front-end engineering and design (FEED) ensures minimal change and accurate forecasting during design.

Engineer

Detailed engineering by experienced personnel delivers the best solution.

Procure and Fabricate

Efficient procurement and high-quality fabrication optimise costs.

Install and Commission

World-class vessels enablesafe, on-schedule and cost-efficient installation.

Maintain

Effective and responsive maintenance reduces the cost of ownership.

Extend

New technologies extend the life of the field development and maximise return on investment.

Decommission

Facilitation of abandonment, decommissioning and reuse of infrastructure.

Creating better outcomes for our stakeholders

Careers

Our clients

We work collaboratively with our clients to make possible the energy transition. We offer cost effective solutions and explore carbon reduction opportunities through our technology, assets and strategic partnerships. We insist on high standards in safe and responsible operations.

Investors

Our shareholders

Our strategy aims to create resilient value for shareholders. We are committed to strong capital stewardship and corporate governance. Transparent reporting enables our shareholders to measure our performance, and through investor events we aim to communicate our strategy and listen to feedback.

Sustainability

Our people

Our people are the foundation of our business and their health, safety and wellbeing are our top priority. We invest in our people, giving them opportunities to learn and grow. Creating, maintaining and promoting an inclusive work environment is vital for our employees to thrive.

Media

Society

With a well-established international presence, we take care to understand and respect local customs and sensitivities. Through close relationships with local stakeholders, we create opportunities that foster sustainable energy development for all. We aim to minimise the impact of our operations on ecosystems.

Sustainability

Committed to operating in a safe and ethical manner

Subsea7 has a strong values-led culture and believes that operating in a safe, ethical and responsible manner is at the heart of creating sustainable value for all our stakeholders. Below are some key figures from 2023 across all sustainability dimensions.

Learn more about our sustainability commitments

0.03
Lost-time injury frequency rate per 200,000 hours worked
83%
Percentage of suppliers with a contract that included human rights clauses
8,349
Number of employees completing compliance and ethics e-learning including anti-corruption
11.9 GW
Cumulative power capacity of renewables projects supported to end of 2023
656,624
Tonnes of CO2-e Scope 1 GHG emissions
91%
% of waste recycled onshore
1.18
Environmental incident frequency rate per 200,000 hours worked
23
Litres of environmental spill per 200,000 hours worked