Subsea 7 has agreed to sell Seaway7's heavy transportation business, comprising six semi-submersible heavy transport vessels, to Abu Dhabi-based HEA Energy, the Luxembourg-registered group said on 5 November 2026. Terms were not disclosed.
Why HEA Energy (Abu Dhabi) is buying Seaway7's heavy transportation business (six semi-submersible heavy transport vessels, from Subsea 7 S.A.)
Splash247 and HeavyLift PFI reported that the fleet gives HEA Energy a second line of business with its own contracted backlog and makes it the only owner of this type of vessel in the Middle East.
Deal terms and financing
The business includes six open-deck semi-submersible heavy transportation vessels, five owned and one chartered from a third party. Offshore Wind named them as Seaway Eagle, Falcon, Hawk, Osprey, Albatross and the chartered Swan, used to carry offshore wind foundations, substations, jack-ups and modules. Commercial terms, including the cash consideration, are confidential. The sale will trigger a €105m special dividend, approved at Subsea7's extraordinary general meeting on 25 September 2025, payable at the earlier of closing and the date immediately before the effective date of the Saipem merger.
Regulatory approvals and timing
Completion is expected in the first half of 2027, subject to closing conditions including any applicable regulatory approvals.
Market context
The transaction is the permitted business divestment referenced in Subsea7's merger agreement with Saipem.
