Seaway7 awarded foundation installation contract in the UK

Luxembourg – 17 December 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award to Seaway7, part of the Subsea7 Group, of a substantial¹ contract by Inch Cape Offshore Limited, a joint venture between ESB and Red Rock Renewables, for the transport and installation of pin-pile jacket foundations and transition pieces for the Inch Cape Offshore Wind Farm.

The 1.1GW Inch Cape project offshore site is located in the Scottish North Sea, 15 kilometres off the Angus coast, and will comprise 72 wind turbine generators. Seaway7's scope of work includes the transport and installation of 18 pin-pile jacket foundations and 54 transition pieces with offshore works expected to commence in 2026.

Lloyd Duthie, Seaway7's VP UK & Asia, said: “We are looking forward to supporting ESB and Red Rock on the Inch Cape project and at the same time making a contribution to the UK's energy security and emissions reduction targets”.

John Hill, Inch Cape's Project Director said: “I am extremely pleased to have such an experienced party as Seaway7 sign with the project and take responsibility for the installation of our jacket foundations and the transition pieces.”

1. Subsea7 defines a substantial contract as being between $150 million and $300 million
   
   

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Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs.

Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 20 8210 5568
[email protected]

Contact for media enquiries:
Nikki Beales
Communications Manager, Seaway7 
Tel +44 (0)7843895292  
[email protected] 
www.seaway7.com 

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This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 17 December 2024 at 08:00 CET.

Attachment

• SUBC Inch Cape FINAL