Italy’s Saipem and Norway’s Subsea7 Merger to Create Energy Services Giant
company’s Chairman will be designated by Siem Industries while the CEO will be designated by CDP Equity and Eni.In addition, it is currently envisaged that Saipem’s CEO, Alessandro Puliti, will be appointed as CEO of the Saipem7 while it is currently envisaged that Subsea7’s CEO, John Evans, will be the CEO of the entity that will manage the offshore business of the combined company.The offshore business will comprise all of Subsea7 and Saipem’s offshore engineering and construction activities.The parties currently plan to submit the final terms of the proposed combination to
Subsea7 and Equinor Strengthen Collaboration, Agreeing Work on Two Fields
many years to optimise challenging subsea developments ranging from bundle solutions for the Snorre Expansion to the integrated Bacalhau development in Brazil. We look forward to extending and deepening this relationship as we work together to unlock the value in Wisting and Bay du Nord,” added John Evans, CEO of Subsea7 said.The Bay du Nord project (BdN) consists of several oil discoveries in the Flemish Pass basin, some 500 km northeast of St. John’s in Newfoundland and Labrador. The first discovery was made by Equinor in 2013, followed by additional discoveries in 2014, 2016 and 2020.Equinor
Schlumberger, Subsea 7 Renew Subsea Integration Alliance for 7 More Years
processing systems, subsea umbilicals risers and flowlines systems (SURF), and life-of-field services.“The success of Subsea Integration Alliance is a result of the drive and commitment of both Subsea 7 and OneSubsea to deliver an enhanced experience and outcome for our clients,” said John Evans, Subsea 7 Chief Executive Officer. “Driven by the demonstrable benefits to clients of this mode of collaborating, integrated projects are expected to remain a significant component of the subsea market. We look forward to extending our relationship with OneSubsea as we address the opportunities
Subsea 7 Takes Majority Stake in Floating Wind Tech Player
the support of Subsea 7 in various upcoming bids with key clients in the floating wind industry. While actively supporting the further development of the Nautilus concept, Subsea 7 will also continue to engage with other technology providers to support client, regional or supply chain specificities.John Evans, Chief Executive Officer, Subsea 7, said, The agreement with Nautilus represents an exciting opportunity for Subsea 7 to further our involvement in the technology being developed for the floating wind market. Involvement at an early stage allows the development of this concept to benefit from our
SRO Solutions Upgrades IBM Maximo for FPSO Player MODEC
series of high value digitization upgrades SRO has completed for the business since 2018, has resulted in a more efficient and accurate inventory for MODEC in Ghana streamlining its onshore headquarters in Accra with its vessels the FPSO Kwame Nkrumah (KNK) in the Jubilee Oil Field, and FPSO Professor John Evans Atta Mills (JAM) in the Tano Ennyera Ntomme (TEN) Oil Field," SRO said.SRO said that it recently improved MODEC’s system which was prone to ordering errors resulting in stock lying in storerooms for longer than necessary and purchasing orders being raised to order materials that were
Subsea 7 to Cut 3000 Jobs, Reduce Vessel Fleet
," Subsea 7 said."As previously indicated, these cost reduction measures are expected to deliver approximately $400 million in annualized cash cost savings from the second quarter 2021. In addition, capital expenditures will be reduced to minimal levels in 2021 and 2022," Subsea 7 said.John Evans, Chief Executive Officer said: “Faced with a significant deterioration in the oil and gas market, we are taking swift and decisive action to address the elements under our control. These measures to reduce our cost base will help preserve cash and protect our balance sheet strength while
Subsea 7 Confirms Executive Management Changes
Offsore services firm Subsea 7 on Thursday announced changes to its executive management team, including the appointment of a new Chief Executive Officer and three Executive Vice Presidents, effective from January 1, 2020.John Evans is now in place as Chief Executive Officer, succeeding Jean Cahuzac who retired at the end of 2019. Evans remains on the Board of the Company as a Non-Executive Director.Bringing to the role more than 30 years’ experience in the global offshore energy services industry, Evans was most recently Chief Operating Office for Subsea 7 from 2005 to 2019.Other changes to the
Subsea 7 CEO Will Retire at Year End
Offshore services company Subsea 7 announced that Jean Cahuzac will retire from his position as CEO at the end of this year, and will be succeeded from January 1, 2020 by John Evans, who is currently COO.Cahuzac has been in the industry for 41 years and CEO for Subsea 7 since 2008, having previously worked for Transocean and Schlumberger. Following his retirement as CEO, he will continue with Subsea 7 as a Non-Executive Director.Evans has been COO of Subsea 7 since he joined the company in 2005 and has over 30 years’ experience in the offshore energy services industry. He previously worked for
First Oil from TEN Fields off Ghana
to average around 23,000 barrels per day (bpd) in 2016, eventually reaching 80,000 bpd along with associated gas to be harnessed to ease a domestic power deficit. President John Dramani Mahama opened the valves on the $1 billion Floating Production, Storage and Offloading vessel, the Prof John Evans Atta Mills, named after Ghana's former president who died in 2012. TEN, with estimated reserves of 240 million barrels of oil and associated gas of 60 million barrels equivalent, is Ghana's second oilfield after the country's flagship Jubilee project, also operated by Tullow, which began
February 2025
