Subsea 7 awarded contract offshore Taiwan
Luxembourg 13 November 2018 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY)
today announced the award of a substantial(1) contract to Seaway Offshore Cables
(SOC), an entity in Subsea 7s Renewables and Heavy Lifting Business Unit, for
the Yunlin Offshore Wind Farm project by YunNen Wind Power Company, a company of
the wpd group, for the supply and installation of the export and inner array
grid cable system.
The Yunlin offshore wind farm is located approximately 8km off the coast of
Yunlin County within the Taiwan Strait on the west coast of Taiwan and comprises
80 wind turbine generators each with a capacity of 8 megawatt. In addition to
the submarine cable installation works, SOC will also provide the
pre-installation of horizontal drilling conduits, submarine cable route surveys,
post lay trenching, termination and testing services. Associated materials will
be provided including the supply of submarine composite cables and cable
protection systems.
Project engineering will commence immediately from SOC offices in Leer, Germany
and Taipei, Taiwan. Offshore activities are planned for execution in 2020.
Steph McNeill, Subsea 7 Senior Vice President Renewables and Heavy Lifting,
said: Along with the Coastal Virginia Offshore Wind Project, this is the second
supply and installation contract that SOC has been awarded since being acquired
by Subsea 7, both of which are located outside of Europe showing how this sector
is becoming increasingly global. Combining Asian and European project teams will
ensure the transfer of knowledge and assist in developing local capabilities in
offshore wind development.
(1) Subsea 7 defines a substantial contract as being between USD 150 million
and USD 300.
Subsea 7 S.A. is a leading global contractor in seabed-to-surface engineering,
construction and services to the offshore energy industry. We provide technical
solutions to enable the delivery of complex projects in all water depths and
challenging environments.
Subsea 7 is listed on the Oslo Bors (SUBC), ISIN LU0075646355.
Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Tel +44 (0)20 8210 5568
isabel.green@subsea7.com
www.subsea7.com
Forward-Looking Statements: Certain statements made in this announcement may
include forward-looking statements. These statements may be identified by the
use of words like anticipate, believe, could, estimate, expect,
forecast, intend, may, might, plan, predict, project, scheduled,
seek, should, will, and similar expressions. The forward-looking
statements reflect our current views and are subject to risks, uncertainties and
assumptions. The principal risks and uncertainties which could impact the Group
and the factors which could affect the actual results are described but not
limited to those in the Risk Management section in the Groups Annual Report
and Consolidated Financial Statements 2017. These factors, and others which are
discussed in our public announcements, are among those that may cause actual and
future results and trends to differ materially from our forward-looking
statements: actions by regulatory authorities or other third parties; our
ability to recover costs on significant projects; the general economic
conditions and competition in the markets and businesses in which we operate;
our relationship with significant clients; the outcome of legal and
administrative proceedings or governmental enquiries; uncertainties inherent in
operating internationally; the timely delivery of vessels on order; the impact
of laws and regulations; and operating hazards, including spills and
environmental damage. Many of these factors are beyond our ability to control or
predict. Other unknown or unpredictable factors could also have material adverse
effects on our future results. Given these factors, you should not place undue
rel
Ekstern link: https://newsweb.oslobors.no/message/463402
Nyheten er levert av OBI.
