Seaway7 and Saipem Announce Fixed Offshore Wind Commercial Collaboration Agreement

23 Feb 2023 18:00 CET

Oslo – 23 February 2023 – Seaway 7 ASA (Euronext Growth: SEAW7) is pleased to
announce that it has entered into a commercial collaboration agreement with
Saipem (Milan: SPM) to jointly identify, bid and execute fixed offshore wind
projects.

Seaway7 and Saipem will pursue selected projects where the combined utilisation
of the companies’ complementary world-class assets, technologies, products and
competencies will generate significant synergies and improve project economics.

Seaway7 and Saipem will deploy key enabling assets and capabilities to cover
activities such as front-end engineering design (FEED), procurement,
construction, transportation and installation of foundations and inner-array
cables, as well as the installation of substations and wind turbine generators.
The target projects for the collaboration are large integrated turnkey
developments in Europe, the UK and the US, with the possibility of expanding to
other geographic areas.

The collaboration will enhance operational flexibility and enable early
engagement with both clients and the supply chain to optimise design and
execution strategies, and to secure critical enabling assets, including vessels
and yards.

Gianalberto Secchi, Chief Operating Officer of the Offshore Wind Business Line
at Saipem commented: “The agreement with Seaway7 represents an important
milestone to offer a more competitive value proposition to our clients on
certain integrated fixed wind projects. Together, we will be able to provide a
full set of services for wind farms in line with Saipem’s strategy to best serve
the growth in renewable power production projects”.

Stuart Fitzgerald, Chief Executive Officer at Seaway7 commented: “We are very
pleased to partner with Saipem for this cooperation which builds upon the
successful collaboration on the Seagreen project. Working together, we will be
well-positioned to efficiently utilise complementary assets and capabilities to
create differentiated technical solutions and further optimise project
execution. Importantly, the strengthened offering will also expand the potential
market for EPCI opportunities through our combined fleet and expertise”.

For further information, please contact:
Mark Hodgkinson
ir@seaway7.com

About Seaway7
Seaway7 is a global leader in the delivery of fixed offshore wind projects,
committed to contributing to an efficient and sustainable energy supply for the
future.

Seaway7 is listed on Euronext Growth Oslo (SEAW7).

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