Our vision is to lead the way in the delivery of offshore projects and services for the energy industry.

In an evolving energy sector, we create sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

Download Annual Report 2021

2021 Financial Performance

$5bn

Revenue

$521m

Adjusted EBITDA

$7.2bn

Backlog

$93m

Dividends and share repurchases

Leadership Review

Chairman’s Statement

“Subsea 7 delivered an acceptable performance in 2021 that reflected the early stages of a recovery in the oil and gas industry and continued progress in the offshore wind sector, against a backdrop of challenges relating to the Covid-19 pandemic.”

- Kristian Siem, Chairman

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Chief Executive Officer's Review

“Subsea 7 delivered a solid operational and financial performance in 2021 supported by improving oil and gas prices and enabled by work practices that have adapted to the ongoing challenges posed by the Covid-19 pandemic.”

- John Evans, Chief Executive Officer

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View Executive Management Team

Our Business Model

Full service across the field lifecycle

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Creating better outcomes for our stakeholders

Our clients

Our collaborative way of working helps us to develop the best solutions for our clients’ needs. We are able to lower our clients’ costs by utilising our technology, our assets and efficient work processes. Our culture ensures good performance without
compromising safety.

Our shareholders

We seek to create long-term value for our shareholders in all that we do. We have the right solutions to maintain a market-leading position. We have a disciplined approach to capital allocation and a commitment to good governance.

Our people

Our people are the foundation of our business. Our experts, onshore and offshore, can deliver solutions around the world, leading the industry in know-how and the ability to innovate. We invest in our people, giving them opportunities to learn and grow.

Society

We engage with the societies we work in. Through local partnerships we create and develop local content opportunities, and contribute to the communities in which we work. With Integrity as a Value we have a zero tolerance attitude towards non-compliant business practices.

Our Strategy

While 2021 was a challenging year for our operations, we continued to mature and develop our two-pronged strategy of Subsea Field of the Future – Systems and Delivery, and Energy Transition – Proactive Participation.

Our Business Units

SUBSEA FIELD OF THE FUTURE – SYSTEMS AND DELIVERY

Subsea 7 is differentiated by our collaborative working relationships and our ability to develop creative solutions. We are taking this to the next level with our ambition for the subsea field of the future, which aims to create value by further improving our solutions and the way we deliver them.

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ENERGY TRANSITION – PROACTIVE PARTICIPATION

As global energy demand continues to grow, society is looking for cleaner and more sustainable sources to meet its needs. Subsea 7’s strategy is to be a proactive participant in the energy transition by assisting our clients in reducing the carbon footprint of their developments, by reducing our own emissions and by being a major contractor in the renewable energy market.

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