Cahuzac: second quarter another strong one for Subsea 7Company News // July 31, 2014
Jean Cahuzac: sec ond quarter was a good one for Subsea 7.
Jean Cahuzac, Subsea 7's Chief Executive Officer, says the second quarter 2014 "was another strong quarter for the group, both operationally and financially.
"I continue to be pleased overall with our project portfolio execution," he said. "Consistent with our previous guidance, the group's order backlog ended the second quarter at US$11.2 bill1on.
"Significant escalations on existing contracts mitigated the impact of clients delaying award dates for some of their new projects.
"Global vessel utilisation was 91 per cent, which reflects good operational efficiency and a low level of dry-docking and planned maintenance in the period."