SUBSEA 7 INC. COURT MEETING AND EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

GEORGE TOWN, GRAND CAYMAN, 10 November 2010 -

SUBSEA 7 INC. (OSE Symbol: SUB), announces that the

Scheme of Arrangement in connection with the proposed

Combination with Acergy S.A. was approved at the

Court Meeting held on November 9, 2010 at the offices

of Maples & Calder, Ugland House, South Church

Street, George Town, Grand Cayman, Cayman Islands.

At the Company's subsequent Extraordinary General

Meeting, the proposed Combination of the Company and

Acergy S.A. was approved. In addition, the Company's

shareholders also approved, subject to the Scheme of

Arrangement becoming effective, the repurchase and

cancellation of the entire issued ordinary share

capital of the Company in exchange for newly-issued

shares in the combined entity and an amendment to the

Company's Articles of Association.

It is expected that the Chairman of the Company and

the Chairman of the Board of Directors of Acergy SA

will shortly agree upon the identity of a ninth

director to be proposed for nomination to the Board

of Directors of the combined entity at which point

Acergy SA will call a further meeting of shareholders

seeking approval of this appointment.

The Minutes of Meeting of the EGM are attached hereto.

We anticipate that Completion will occur in January

2011, subject to customary completion conditions.

For further information, contact:

Barry Mahon, Chief Financial Officer, Tel: +44 (0)

1224 526147.

Subsea 7 Corporate Communications:

Jackie Doyle, Global Corporate Communications

Manager, Tel +44 (0) 1224 526196.

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