- Business
- Subsea 7 S.A. (ACGYF) is a Luxembourg-domiciled global leader in subsea engineering, construction and services for the offshore energy industry, delivering projects and solutions across lower-carbon oil and gas, renewables and emerging energies. The company provides a comprehensive range of products and services for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation and commissioning of seabed production facilities, tie-backs to platforms or shore; flexible flowlines, risers, umbilicals and structures; remotely operated vehicles, tooling and life-of-field services; and capabilities in offshore wind foundations and inner array cables, carbon capture and storage, hydrogen, electrification and decommissioning. Subsea 7 operates a diversified fleet of over 30 high-specification vessels and 165 ROVs from fabrication facilities worldwide, serving clients in more than 60 countries with key regions encompassing the Gulf of Mexico, North Sea, Asia Pacific, Africa, Middle East and South America; it maintains operational headquarters in London, UK, and traces its origins to a 2002 joint venture between DSND and Halliburton Subsea, with the current entity formed via the 2011 combination of Subsea 7 Inc. and Acergy S.A. In July 2025, Subsea 7 entered a binding merger agreement with Saipem, under which Subsea 7 will be absorbed into Saipem to form Saipem7—a combined entity with approximately EUR21 billion in revenue, over EUR2 billion EBITDA, EUR43 billion backlog and more than 60 vessels—creating annual synergies of EUR300 million from the third year post-completion, expected in the second half of 2026 subject to approvals; the deal includes a EUR450 million extraordinary dividend to Subsea 7 shareholders and positions the post-merger Subsea 7 business (branded "Subsea7, a Saipem7 Company") to represent about 84% of Saipem7's EBITDA while remaining headquartered in London.