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Reduce

Subsea 7 SA (OTCBB: SUBCY) rated to Reduce by HSBC Securities

Tuesday,  Jan 26, 2016  10:25 AM ET by Dave Ficere

HSBC Securities rated
Subsea 7 SA (OTCBB: SUBCY) to Reduce.

Acergy S.A., through its subsidiaries, provides seabed-to-surface engineering and construction contracting services for the offshore oil and gas industry worldwide. It operates in five segments: Subsea Construction, Umbilicals, Risers, and Flowlines (SURF); Inspection, Maintenance, and Repair (IMR); Conventional; Trunklines; and Survey. The SURF segment provides engineering, procurement, and construction work relating to oil and gas fields. This includes tieback projects, which involve pipelaying, umbilical installation, and trenching or ploughing to connect a new or additional subsea development to an existing production facility. The IMR segment offers platform surveys, debris removal, and pipeline inspections using divers and/or remotely operated vehicles on producing oil and gas field infrastructure. The Conventional segment comprises engineering, construction, installation, and refurbishment activities relating to platforms attached to the seabed and their associated pipelines. Its conventional activities include design, construction, and installation of fixed platforms. The Trunklines segment comprises offshore installation of pipelines used to carry oil or gas over long distances. The Survey segment provides support for both external clients and internal projects in the fields of construction support, pipeline inspection, and sea bed mapping using specialized survey ships and survey remotely operated vehicles. Its construction support activities include prelay, as-laid, and as-trenched surveys; spool metrology; deepwater positioning; and light installation works. The company is based in Sunbury-on-Thames, the United Kingdom.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.



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