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Subsea 7 Secures Significant Decommissioning Contract with Shell

Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) has clinched a substantial contract from Shell for the decommissioning of subsea infrastructure linked to the FPSO Fluminense in the Bijupirá and Salema fields of the Campos Basin, situated at an impressive 700 meters water depth.

Subsea 7’s extensive scope encompasses the disconnection, recovery, and responsible disposal of 10 flexible risers, three umbilicals, and nine mooring lines. The offshore operations are slated to commence in December 2023.

Yann Cottart, Vice-President of Subsea 7 Brazil, expressed his enthusiasm, stating, “Twenty years ago, Subsea 7 installed the flexibles and umbilicals for Shell’s Bijupirá and Salema fields, and, two decades later, we’re proud to be one of Shell’s chosen contractors to participate in the completion of this field’s life cycle.”

Subsea 7, a global leader in delivering offshore projects and services for the evolving energy industry, continues to solidify its position by securing crucial contracts. This recent award from Shell underscores Subsea 7’s expertise in managing complex projects within the challenging offshore environment.

The company’s commitment to sustainable value creation is evident in its role as the industry’s partner and employer of choice, delivering efficient offshore solutions to meet the world’s energy needs. Subsea 7 is listed on the Oslo Børs (SUBC), with ISIN LU0075646355 and LEI 222100AIF0CBCY80AH62.

This announcement marks a significant milestone for Subsea 7, reflecting not only its technological prowess but also its enduring partnership with Shell. As the company gears up for the upcoming offshore works, the industry watches with anticipation, recognizing Subsea 7’s pivotal role in advancing the decommissioning phase of the FPSO Fluminense in the Campos Basin.

In a dynamic energy landscape, Subsea 7 remains at the forefront, demonstrating its ability to navigate challenges and contribute to the sustainable evolution of the offshore industry.

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