EnergyWatch

Subsea 7 expects more offshore orders after weak years

Contracts are returning to the offshore market after recent years of "very low levels", writes Subsea 7 in its annual report.

Photo: Subsea 7

2017 marked the third consecutive year with challenging conditions in the offshore market, but Subsea 7 eyes burgeoning signs of more activity, states the offshore company in its 2017 report.

"Market award activity in offshore oil and gas has begun to gradually recover from the very low levels experienced in recent years. We look forward to the year ahead with confidence in our ability to provide clients in all our markets with cost-effective solutions that contribute to the long-term sustainability of offshore energy," comments CEO Jean Cahuzac in the report.

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