Abu Dhabi-based HEA Energy, a provider of offshore marine services, has agreed to acquire the heavy transportation business of Seaway 7, part of the Subsea 7 Group, Subsea 7 said on Thursday, November 5.
The six open-deck semi-submersible heavy transport vessels include five owned ships: Seaway Albatross, Seaway Eagle, Seaway Falcon, Seaway Hawk, and Seaway Osprey. The remaining vessel, Seaway Swan, is chartered from a third party.
Subsea 7 said completion is expected in the first half of 2027, with any applicable regulatory approvals among the closing conditions. The terms of the deal, including its cash consideration, have not been disclosed.
The sale qualifies as the permitted business divestment in Subsea 7's merger agreement with Saipem and is set to result in a €105 million (US$117 million) special dividend.
Subsea 7's extraordinary general meeting approved the dividend on September 25, 2025; it is payable on whichever comes first, the transaction's closing or the date immediately preceding the merger's effective date.
The fleet carries loads of up to 40,000–55,000 tonnes. Its cargoes include drilling rigs, jackup units, oil and gas modules, and offshore wind foundations and substations.
HEA Energy managing director Omar Elali said the acquisition would give the company "a global platform, a second line of business with its own contracted backlog and the ability to combine transport, installation and maintenance into a single offer for our clients."
The announcement came a day after Brazil's Conselho Administrativo de Defesa Econômica approved the Saipem–Subsea 7 merger on condition that the pipelay and heavy lift vessel Seven Borealis is sold. European and Australian reviews are continuing, and outstanding merger conditions must be met or waived by December 31, 2026.
