Subsea 7 Authorises $200M Share Repurchase

Subsea 7 Board of Directors authorised a new share repurchase programme of up to USD 200 million.

The share repurchases are to be carried out within two years and the repurchased shares will be held in treasury and will be cancelled or used to fulfill obligations under Subsea 7’s employee share-based payment schemes.

Shares will be repurchased in the open market on the Oslo Stock Exchange.

This share repurchase programme is in accordance with the authorisation  granted to the board of directors at the extraordinary general meeting of the company on 27 November 2014.

Under the authorisation, the company or any direct or indirect wholly-owned subsidiary of the company, is authorised to purchase shares at a volume not exceeding 10% of the issued share capital in aggregate.

In addition, the board will recommend to the shareholders at the annual general meeting in April this year that a special dividend of NOK 1.50 per share be paid, equivalent to a total dividend of approximately USD 55 million.

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on; +44 (0) 203 793 8800.

More info

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