Our vision

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

Order Intake

$8.2bn

2023: $7.4bn
Revenue

$6.8bn

2023: $6.0bn
EBITDA

$1,090m

2023: $714m

Subsea and Conventional

Renewables

Our world

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

Our strategy

We create sustainable value by delivering offshore energy transition solutions, enabling the subsea movement of hydrocarbon molecules and electrons.

Explore our strategy Download strategic report

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

$250m

dividends and share repurchases in 2024

$350m

dividend proposed for payment in 2025

Download Financial Review

Chairman’s Statement

It is estimated that on the current trajectory, global demand or energy will continue to increase into the 2030s. Whether demand is met by traditional hydrocarbon resources, or by renewable developments, Subsea7 is positioned to benefit from this long-term structural trend.

Kristian Siem, Chairman

Download Chairman's Statement View Board of Directors

Chief Executive Officer's Review

Subsea7’s revenue increased 14% and our Adjusted EBITDA margin expanded to 16%, reflecting our late-cycle exposure to the recovery in the subsea market and structural growth in the offshore wind industry, as well as solid project execution…Driven by strong demand for our services and selective tendering, the mix of long-term contracts in our backlog has continued to shift towards those won in a favourable environment, underpinning our confidence in the future.

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 accurate forecasting.

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 enable safe, 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 the return on investment.

Decommission

Facilitation of abandonment, decommissioning and reuse of infrastructure.

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.

Here are some key figures from 2024 across all sustainability dimensions.

Learn more about our Sustainability Commitments Download Sustainability Statement

15.8 GW
Cumulative power capacity of renewables projects supported to end of 2024
0.04
Lost-time injury frequency rate per 200,000 hours worked
100%
Employees completing compliance and ethics e-learning including anti-corruption
109
GHG emissions intensity ratio (Scope 1 GHG tCO2e/$ millions revenue
20%
Women in top management positions
85%
Percentage of suppliers with a contract that includes human rights clauses
74%
Purchased onshore electricity from renewable energy tariffs
99%
Employees completing cybersecurity e‑learning
0.9
Environmental incident frequency