Our Vision and Values Framework

Our Vision

To make possible the global delivery of offshore energy for today and tomorrow.

Our Values

Safety
Integrity
Sustainability
Performance
Collaboration
Innovation

Our Strategy

We create sustainable value by delivering the offshore energy transition solutions the world needs.

How we make possible

These are the key areas that differentiate Subsea7:

Early engagement and system innovation
Collaboration and partnerships
Integrated services
Sustainable delivery
Digital solutions
Enabling-products

Download Annual Report 2022

2022 Financial Performance

$5.1bn

Revenue

$559m

Adjusted EBITDA

$9.0bn

Backlog

$78m

Dividends and share repurchases

Leadership Review

Chairman’s Statement

“We have a strong position across the offshore energy landscape from lower-carbon oil and gas, carbon capture and fixed offshore wind, to emerging energy sources such as floating wind and future opportunities in hydrogen. We are playing a key role in supporting our stakeholders, and the world, in achieving its energy transition goals.”

- Kristian Siem, Chairman

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View Board of Directors

Chief Executive Officer's Review

“Our Subsea and Conventional business experienced continued positive momentum in 2022. High tendering activity resulted in another year of strong order intake along with an improvement in pricing. In our Renewables business, the terms of new offshore wind contracts improved driven by high forecast demand and a shortage of installation capacity.”

- John Evans, Chief Executive Officer

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View Executive Management Team

Our Business Model

Download Our Business Model

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 a disciplined approach to capital allocation and a commitment to good governance. Through roadshows and conferences, we aim to communicate effectively with our existing and potential new shareholders.

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 World

Subsea7 creates sustainable value by delivering the offshore energy transition solution the world needs.

Our Strategy

CONTINUOUS EVOLUTION OF LOWER-CARBON OIL AND GAS

Subsea7 is playing a significant role in offshore energy transition, enabling lower-carbon oil and gas through the continuous evolution of subsea and conventional developments, life-of-field services and the electrification of offshore facilities.

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ENABLING THE GROWTH OF RENEWABLES AND EMERGING ENERGY

Subsea7 is making renewables and emerging energy possible by enabling the change and innovation required to deliver projects in offshore wind, carbon capture and hydrogen.

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