History

Our company has a very long and distinguished heritage and we can trace our roots back to Det Søndenfjelds-Norske Dampskipselskap AS (DSND), which was established in 1854. We first began ROV operations as SubSea Offshore in 1976 and embarked on our first ROV design and build programme in 1983 with the launch of the Pioneer work-class system.

Following DSND's acquisition of Consub SA in 1997, we became a major player in the Brazilian offshore market and consolidated our position globally when DSND merged with Halliburton Subsea in May 2002 to create Subsea 7, a 50/50 joint venture company.

In 2004, the Company entered into a Heads of Agreement to buy Halliburton Subsea's share and the transaction was completed in January 2005. Later that year, Siem Offshore became the sole owner of the Company and floated Subsea 7, Inc. on the Oslo Stock Exchange in August 2005 (Ticker: SUB).

On 1 January 2006, Subsea 7 re-structured its Integrated Remote Technologies division to create i-Tech - a global division with independent assets and autonomous management structure - to focus on servicing the dynamic requirements of the offshore exploration & production market. i-Tech is now the second largest operator of ROV systems onboard floating drill rigs with leading positions in Australia, Brazil, Equatorial Guinea, Libya and the United Kingdom.

1854	DSND (Det Sondenfjelds-Norske Dampskibsselskab) was established as a shipping, passenger transport and ferry business between Norway and Hamburg. DSND continued in this line, improving their technology until 1964
1919	Herman Brown, his brother George and brother-in-law Dan Root, joined together to form Brown & Root. They built roads, dams, bridges and ships, and the first offshore oil platform
1962	Brown & Root was acquired by Halliburton
1964	DSND's passenger transport business ceased. The company maintained its position as a stable shipping company until 1985
1969	SubSea Offshore was owned by Ocean Drilling and Exploration Company (ODECO) of America and began North Sea operations in 1973
1976	Wharton Williams (2W) began as a diving and construction company
1976	SubSea Offshore started ROV operations in 1976 with the first ROV system purchased
1977	A joint venture was set up with 2W and Taylor Diving Salvage, TDS were already part of the Halliburton Group
1980	SubSea Offshore mobilises the first ROV onboard a drill rig in Norway
1983	SubSea Offshore began production of its own design, the Pioneer Remotely Operated Vehicle (ROV)
1985	DSND was revitalised as an investment company active in the shipping industry
1988	Brown and Root bought out Wharton Williams
1990	In the early nineties, DSND shifted more into the offshore business, making several offshore-related investments and selling traditional shipping assets
1990	SubSea International (SubSea Offshore's holding company) was acquired by a partnership of American Investment Bankers, The Energy Recovery Fund and the general partners of Goldman Sachs and Company
1990	Rockwater was formally launched as 50% Smit and 50% 2W
1993	The SubSea Group was merged with Baroid
1993	SubSea purchased Brown & Root Survey
1994	Baroid Corporation was acquired by Dresser Industries
1994	Dresser/SubSea acquired Subtech
1995	Since the early nineties DSND had turned their focus towards offshore oil related investments, which included offshore construction, well maintenance and geotechnical drilling
1997	Rockwater became wholly owned by Brown & Root
1997	DSND acquired Oceaneering International Services Ltd's diving and construction business in the North Sea
1997	DSND entered into an agreement to buy 90% of the shares in Consub SA, Brazil
1998	DSND bought all shares in Nemo Engineering AS
1998	DSND entered into an agreement to merge with Seatem Technology ASA
1998	Halliburton merged with the Dresser group
1999	Rockwater and SubSea combined to form the subsea suite of companies known as Halliburton Subsea
1999	DSND entered into an agreement to purchase all shares in Hays Ships
2002	Halliburton Subsea and DSND combine resources to form Subsea 7
2002	Sale of Geotechnical business to Fugro
2005	Siem Offshore Inc becomes the sole owner of Subsea 7
2005	Re-structuring of the Company. Subsea 7 traded on Oslo Stock Exchange (Ticker Code: SUB)
2006	Creation of i-Tech as an independent business unit of Subsea 7 to focus on providing ROV and remote intervention support services to the global exploration & production industry
2006	Launch of the Centurion QX as i-Tech's flagship work-class ROV
2007	Subsea 7 acquires Petrology, a specialist pipeline welding and fabrication company
2008	Subsea 7 establishes Subsea Engineering Solutions, a joint venture with Richtech for the provision of front-end engineering and design services for deepwater field developments