euronext77d ago
Subsea7 and SLB OneSubsea Sign Strategic Collaboration Agreement with PETRONAS Suriname Stocks master_of_puppets Tue 07/04/2026 - 22:00 LU0075646355 SUBC Petronas 07/04/2026 - 22:00 Oslo Subsea7 and SLB OneSubsea Sign Strategic Collaboration Agreement with PETRONAS Suriname Non-regulatory press releases 90000-670089 Oslo Børs Newspoint Subsea 7 S.A. Euronext Oslo Børs Published 60101030 Oil Equipment and Services XOSL Language English Luxembourg - 7 April 2026 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today<br /> announced the signing of a strategic collaboration agreement between PETRONAS<br /> Suriname E&P B.V. ("PETRONAS Suriname"), a subsidiary of PETRONAS and Subsea<br /> Integration Alliance (SIA), which comprises Subsea7 and SLB OneSubsea. The<br /> agreement creates a long-term framework for close collaboration on field<br /> development projects in Suriname.<br /> <br /> Through early engagement and integrated execution, the collaboration aims to<br /> simplify complex procurement processes, reduce total development costs and<br /> enhance delivery certainty. The optimisation of project timelines, combined with<br /> a reduction in execution risk, will enhance project economics and unlock<br /> opportunities across a portfolio of prospects in Suriname.<br /> <br /> Under the framework, SIA will provide pre-FEED, FEED and engineering,<br /> procurement, construction, installation and commissioning (EPCIC) solutions for<br /> multiple prospective projects. The scope includes subsea umbilical, riser and<br /> flowlines (SURF) from Subsea7, and subsea production systems (SPS) from SLB<br /> OneSubsea.<br /> <br /> Craig Broussard, Senior Vice President for Subsea7, said: "We are proud to be<br /> working with PETRONAS Suriname through this strategic agreement to establish<br /> strong, sustainable foundations in Suriname that will support growth in this<br /> emerging frontier basin. The agreement builds on our track record of<br /> collaborating with our clients to drive value creation through the delivery of<br /> optimised development solutions. We are excited to see the positive impact this<br /> work will have in the region."<br /> <br /> Olivier Blaringhem, CEO of Subsea Integration Alliance, said: "This is an<br /> exciting and important step for the development of the significant opportunities<br /> of PETRONAS Suriname in Suriname's frontier basins. The combined deepwater<br /> expertise and collaborative, agile approach of Subsea7 and SLB OneSubsea, will<br /> maximize value as the developments secure vital energy resources in the region."<br /> <br /> *******************************************************************************<br /> Subsea7 is a global leader in the delivery of offshore projects and services for<br /> the evolving energy industry, creating sustainable value by being the industry's<br /> partner and employer of choice in delivering the efficient offshore solutions<br /> the world needs.<br /> <br /> Subsea Integration Alliance (SIA) is a strategic global alliance combining the<br /> strengths of SLB OneSubsea and Subsea7. Working closely with SIA gives customers<br /> unique access to integrated subsea solutions-including field development<br /> planning, EPCI contracting models, end-to-end project delivery-and total life<br /> cycle solutions.<br /> <br /> Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI<br /> 222100AIF0CBCY80AH62.<br /> *******************************************************************************<br /> <br /> Contact for investment community enquiries:<br /> Katherine Tonks<br /> Investor Relations Director<br /> Tel +44 20 8210 5568<br /> ir@subsea7.com ( mailto:ir@subsea7.com )<br /> <br /> Contact for media enquiries:<br /> Ashley Shearer<br /> Communications Manager<br /> Tel +1-713-300-6792<br /> ashley.shearer@subsea7.com ( mailto:ashley.shearer@subsea7.com )<br /> <br /> <br /> Forward-Looking Statements: This document may contain 'forward-looking<br /> statements' (within the meaning of the safe harbour provisions of the U.S.<br /> Private Securities Litigation Reform Act of 1995). These statements relate to<br /> our current expectations, beliefs, intentions, assumptions or strategies<br /> regarding the future and are subject to known and unknown risks that could cause<br /> actual results, performance or events to differ materially from those expressed<br /> or implied in these statements. Forward-looking statements may be identified by<br /> the use of words such as 'anticipate', 'believe', 'estimate', 'expect',<br /> 'future', 'goal', 'intend', 'likely' 'may', 'plan', 'project', 'seek', 'should',<br /> 'strategy' 'will', and similar expressions. The principal risks which could<br /> affect future operations of the Group are described in the 'Risk Management'<br /> section of the Group's Annual Report and Consolidated Financial Statements.<br /> Factors that may cause actual and future results and trends to differ materially<br /> from our forward-looking statements include (but are not limited to): (i) our<br /> ability to deliver fixed price projects in accordance with client expectations<br /> and within the parameters of our bids, and to avoid cost overruns; (ii) our<br /> ability to collect receivables, negotiate variation orders and collect the<br /> related revenue; (iii) our ability to recover costs on significant projects;<br /> (iv) capital expenditure by oil and gas companies, which is affected by<br /> fluctuations in the price of, and demand for, crude oil and natural gas; (v)<br /> unanticipated delays or cancellation of projects included in our backlog; (vi)<br /> competition and price fluctuations in the markets and businesses in which we<br /> operate; (vii) the loss of, or deterioration in our relationship with, any<br /> significant clients; (viii) the outcome of legal proceedings or governmental<br /> inquiries; (ix) uncertainties inherent in operating internationally, including<br /> economic, political and social instability, boycotts or embargoes, labour<br /> unrest, changes in foreign governmental regulations, corruption and currency<br /> fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster;<br /> (xi) liability to third parties for the failure of our joint venture partners to<br /> fulfil their obligations; (xii) changes in, or our failure to comply with,<br /> applicable laws and regulations (including regulatory measures addressing<br /> climate change); (xiii) operating hazards, including spills, environmental<br /> damage, personal or property damage and business interruptions caused by adverse<br /> weather; (xiv) equipment or mechanical failures, which could increase costs,<br /> impair revenue and result in penalties for failure to meet project completion<br /> requirements; (xv) the timely delivery of vessels on order and the timely<br /> completion of ship conversion programmes; (xvi) our ability to keep pace with<br /> technological changes and the impact of potential information technology, cyber<br /> security or data security breaches; (xvii) global availability at scale and<br /> commercially viability of suitable alternative vessel fuels; and (xviii) the<br /> effectiveness of our disclosure controls and procedures and internal control<br /> over financial reporting. Many of these factors are beyond our ability to<br /> control or predict. Given these uncertainties, you should not place undue<br /> reliance on the forward-looking statements. Each forward-looking statement<br /> speaks only as of the date of this document. We undertake no obligation to<br /> update publicly or revise any forward-looking statements, whether as a result of<br /> new information, future events or otherwise.<br /> <br /> This stock exchange release was published by Katherine Tonks, Investor<br /> Relations, Subsea7, on 7 April 2026 at 22:00 CET.<br /> <BR><BR><p id="link_newsweb"><strong>More information:</strong><BR><a target="_blank" href=" https://newsweb.oslobors.no/message/670089">Access the news on Oslo Bors NewsWeb site</a></p> SUBSEA 7 Subsea 7 S.A. 56311 LU0075646355-XOSL SUBC
