Subsea 7 upgrades its full-year guidance for 2016

Offshore and installation carrier Subsea 7 noted moderate growth on the bottom line in the third quarter in spite of a setback in revenue, and the company raises its full-year guidance for 2016. Still only a few orders in the market, says CEO.

by DANIEL LOGAN

Luxembourg-based offshore and installation carrier Subsea 7 had a solid third quarter in a market where suppliers to the offshore sector are otherwise generally strained by the oil and gas companies' virtual halt in investments.

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Subsea 7 will lay off another 1200 employees
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Subsea 7 wins billion dollar contract in North Sea
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Subsea 7 downgrades 2016 forecast
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