Subsea7 today announced receipt of a client recommendation to execute, subject to consortium partners’ approval, a major1 contract which will be recorded in the Subsea and Conventional business unit’s backlog in the third quarter 2023. Consortium approval is expected in the fourth quarter 2023.
No further details are disclosed at this time due to contractual obligations.
(1) Subsea7 defines a major contract as being over USD 750 million