Subsea 7 S.A.

Subsea 7 is a provider of seabed-to-surface engineering, construction and services contractor to the offshore energy industry. Co. provides products and services required for subsea field development, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of these facilities to fixed or floating platforms or to the shore. Co. also provides products and capabilities to deliver full Life of Field services to its clients. Through its i-Tech Division, Co. provides remotely operated vehicles and tooling services to support exploration, production and drilling activities.
  • TickerSOC
  • ISINLU0075646355
  • ExchangeBerlin Stock Exchange
  • SectorOil Equipment, Services & Distribution
  • CountryGermany


Martin Huseby Karlsen

Back-end loaded E&P spending in Petrobras plan

Petrobras’ updated 5-year business (2020–2024) sees a limited near-term E&P spending increase, with the capex profile once again back-end loaded. 2020 E&P spending is guided flattish YOY, which we consider on the downside versus consensus but in line with our view for global offshore E&P spending. Further, we believe a meaningful portion of the higher E&P spending in 2022–2024e relates to platforms (FPSOs) for the Transfer of Rights (ToR) being owned rather than leased (as Petrobras normally does). As this is capex paid to the yards to purchase the FPSOs, we believe the underlying revenue pote...

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior