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Subsea 7 (OSE: SUB) is one of the world's leading subsea engineering and construction companies. Subsea 7 has its headquarters in George Town on the Cayman Islands. The largest owner is Siem Industries with 39%. The company was listed on the Oslo Stock Exchange in August 2005 following its restructuring the same year.[2]
The company has five main divisions: Subsea field development; ROV support to Drill Rig Operations (the name of this division is i-Tech); Inspection, Repair and Maintenance; Survey and Positioning (the name of this division is Veripos); and Development and Application of Subsea Technology. 45% of revenue is generated in the North Sea while West Africa generates 28%, Brazil (11%), Asia Pacific (8%), and Gulf of Mexico (7%).
Subsea 7 is the result of a series of mergers between DSND, Halliburton Subsea, Subsea Offshore and Rockwater over an extended period, with Rockwater and SubSea merging in 1999 to form Halliburton Subsea, and the resulting company merging with DSND in 2002 to form the present business.[2]
[edit] References
- ^ a b c d "Annual Results 2008". Subsea 7. http://www.subsea7.com/cms/files/Subsea7_Inc_Quarter4report2008-FINAL.pdf. Retrieved on 2009-03-25.
- ^ a b "Company evolution". Subsea 7 website. http://www.petrology.com/subsea_c_evo_archive.php. Retrieved on 2009-05-13.
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