HISTORY of Subsea 7

On January 7 2011, Subsea 7 S.A. was created as a result of a combination (merger) of Acergy S.A. and Subsea 7 Inc. The new entity took the Subsea 7 name while retaining Acergy's Luxembourg domicile and operational headquarters in London. 

Acergy S.A. was a ‘société anonyme holding’ incorporated in the Grand Duchy of Luxembourg under the Luxembourg law of August 10, 1915 on commercial companies as amended, and quoted on both the NASDAQ Global Select Market and Oslo Børs. Acergy S.A. was incorporated in Luxembourg in 1993 and has been a publicly traded company since May 1993. Acergy was established through the merger of the businesses of two leading diving support services companies, Comex Services S.A. and Stolt-Nielsen Seaway A/S, which were acquired by Stolt-Nielsen S.A. 'SNSA' in separate transactions in 1992. At the time of acquisition, Comex Services S.A. was a leading worldwide subsea services contractor, which pioneered deepwater saturation diving and subsea construction using both manned and unmanned techniques. Stolt-Nielsen Seaway A/S operated principally in the North Sea and pioneered the development and use of specially designed, technologically sophisticated diving support ships and ROVs to support operations in hostile deepwater environments. SNSA sold its equity interest in January 2005.

In 2006, the name 'Acergy S.A.' was adopted. Acergy principally operates as a seabed-to-surface engineering and construction contractor to the oil and gas industry worldwide. It provided integrated services, and plans, designs and delivers complex projects in harsh and challenging offshore environments.

In 2008 the decision was taken to dispose of Acergy’s Trunkline business.

On July 23, 2009 Acergy entered into a sale agreement to dispose of 19% of its ownership interest in Sonamet and Sonacergy.  Sonamet operates a fabrication yard for clients, including Acergy, operating in the offshore oil and gas industry in Angola. 

Subsea 7 was a subsea contractor operating within the oil and gas industry. Subsea 7 performs total subsea field developments and provides design, engineering, construction, installation and maintenance of facilities for the subsea production of oil and gas.  Subsea 7 was incorporated on January 10, 2002 under the name DSND Inc., and renamed Siem Offshore Inc. pursuant to a resolution of the general meeting held on July 9, 2004.  It was further renamed from Siem Offshore Inc. to Subsea 7 Inc. on July 15, 2005.

Subsea 7 Inc was a company incorporated in the Cayman Islands.

Subsea 7 traced its roots back to Det Søndenfjelds-Norske Dampskipselskap AS 'DSND' which was established in 1854.  The main operation of the company until 1964 was shipping, with a focus on passenger transportation. In 1964, the company’s passenger liner service between Hamburg and Oslo was closed down, and the company’s activity level was then limited until 1985. DSND operated as an investment company between 1985 and 1995, with investments mostly in offshore-related activities. 

By 1995, the company owned six special offshore vessels, of which two were for offshore construction, two for well maintenance and two for geo-technical drilling. It planned for further expansion into these three business areas through the addition of technology and human capital. DSND conducted eight acquisitions of assets or businesses between 1995 and 2002, which gave the company a significant position within the area of offshore maintenance and construction, both in terms of geography and resources. The acquisitions provided DSND with the skills and equipment to complete total construction contracts for deepwater subsea installations, as well as the installation of pipelines, floating production units and riser systems, and link-up and completion of subsea production installations. 

On October 18, 2001, DSND announced that it was in discussions with Halliburton on combining their respective activities within subsea construction and related services. On May 23, 2002 the two companies announced that they had completed a final agreement for the creation of the 50/50 joint venture company Subsea 7 Holding Inc. (formerly named Subsea 7 Inc.), registered in the Cayman Islands. 

On November 15, 2004 the company announced that it had entered into heads of agreement with Halliburton to acquire the Halliburton Group’s 50% share of Subsea 7 Holding Inc.

The company was listed on the Oslo Stock Exchange in August 2005.