Subsea7’s backlog remains ‘robust’ with high tendering in subsea and offshore wind

(Offshore-energy.biz) Subsea7 has reported a “robust” backlog of $10.4 billion in its financial results for the first quarter of 2024, with tendering activity high in both the subsea and offshore wind sectors.

To remind, in the financial results for the full year of 2023, Subsea7 reported it had secured $7.4 billion of contract awards last year, taking its backlog to $10.6 billion, a year-end level last seen in 2013.

In Q1 2024, order intake was $1.3 billion comprising new awards of approximately $830 million, including the Trion deepwater oil project in Mexico and Baltica 2 offshore substations in Poland.

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