Luxembourg – 11 December 2024 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial 1 contract for a subsea tieback development in the US Gulf of Mexico. Subsea7's scope of work includes the engineering, procurement, construction, and installation (EPCI) of subsea equipment, including structures, umbilicals, production risers, and flowlines. Project management and engineering work will start immediately at Subsea7's office in Houston, Texas, with offshore activities expected to begin in 2026. Craig Broussard, Senior Vice President of Subsea7 Gulf of Mexico, said, “ We are proud to be part of this high-pressure deepwater subsea tieback development. This project builds on our strong track record of successfully delivering oil and gas projects in the deepwater Gulf of Mexico .” Subsea7 defines a substantial contract as being between $150 million and $300 million. ******************************************************************************* Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investment community enquiries: Katherine Tonks Investor Relations Director Tel +44 20 8210 5568 ir@subsea7.com Contact for media enquiries: Ashley Shearer Communications Manager Tel +1-713-300-6792 ashley.shearer@subsea7.com Forward-Looking Statements: This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 11 December 2024 at 23:25 CET. Attachment SUBC Gulf of Mexico Dec 2024
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COLLEGE PARK, Md. (AP) — Tafara Gapare scored 19 points, freshman Derik Queen had 15 points and eight rebounds and Maryland beat Bucknell 91-67 on Wednesday night. Maryland opened the game on a 15-2 run, extended it to 25-7 with 10:38 left and led 51-28 at the break. The Terrapins led by at least 16 points the entire second half, which included runs of 12-0 and 9-0. Gapare scored the 10 straight points during the second-half run. Gapare threw down a highlight dunk while being fouled with 2:08 remaining to give Maryland an 89-62 lead. He was called for a technical foul after stepping over Patrick O’Brien, who was attempting to take a charge. Jayden Williams made the two free throws for Bucknell and Gapare missed his free-throw attempt that would have tied his career high of 20 points. Maryland (6-1) has won 20 consecutive home games against unranked nonconference foes with its last loss coming on Dec. 1, 2021, against Virginia Tech in the ACC/Big Ten Challenge. Julian Reese added 14 points and Selton Miguel scored 13 for Maryland. Gapare, a Georgia Tech transfer, reached double-figure scoring as a Terp for the first time. The Terrapins shot 50% from the field with three 3-pointers apiece by Gapare and Miguel. Ruot Bijiek led Bucknell (4-4) with 20 points and Josh Bascoe added 10. The Bison turned it over 20 times leading to 22 Maryland points. Maryland stays at home to play Alcorn State on Sunday. Bucknell returns home to play Siena on Saturday. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball
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