Caithness pipeline yards not affected by Subsea 7's involvement with Norwegian company
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Subsea7's operations in Caithness will not be affected by its involvement in a new company which will have its headquarters in Norway.
Subsea 7 and Norwegian heavy transport vessel operator OHT have agreed to form Seaway 7 ASA to provide a variety of engineering services for offshore wind projects, based in Oslo.
A spokeswoman for Subsea 7 in Aberdeen said: "The formation of Seaway 7 ASA will have no impact on our Caithness operations." The company has sites at Wester and Hastigrow.
"Our operations in Caithness focus on our innovative pipeline bundle technology for oil and gas projects, which will include future energy transition projects such as carbon capture and utilisation. Seaway 7 ASA is a renewables company, that will provide standalone, integrated or engineering, procurement, construction and installation (EPCI) offerings encompassing installation of wind turbines, foundations, offshore substations, submarine cables and heavy transport."
Subsea 7 is expected to take a 72 per cent stake in the new company, while OHT would hold the remaining 28 per cent. Subsea 7 will retain its business in floating wind, which will not be part of the transaction.
Subsea 7’s renewables business has since 2009 installed over 700 foundations, more than 30 substations, and over 800 kilometres of submarine cables using its fleet of two heavy lift vessels, two cable lay vessels, and an installation support vessel.
Seaway 7 ASA will employ around 600 people and have ten vessels in its possession, including OHT’s five heavy transportation vessels. OHT will also contribute two turbine and foundation installation vessels that are currently under construction and due for delivery in 2022 and 2023.
The first, due for delivery next year, is a customised wind turbine foundation installation vessel equipped with dynamic positioning and a unique smart deck for efficient installation of monopiles as well as jacket foundations.
The deal is expected to be finalised later this year.