Acergy S.A. and Subsea 7 Inc. Combination schedule

On September 23 2010, Acergy S.A. and Subsea 7 Inc.

(Oslo Stock Exchange: SUB) submitted a notification

to the UK Office of Fair Trading (OFT) regarding the

parties'proposed merger. The OFT announced on

December 21 2010, that it is considering undertakings

from the parties in lieu of referring the proposed

merger to the UK Competition Commission.

Following a review of the OFT decision, the Boards of

Acergy S.A. and Subsea 7 Inc. have concluded that the

anticipated date of completion should remain January

7,2011, subject to remaining closing conditions.

Both companies will continue to work with the OFT to

implement the required undertakings.

December 27 2010.

For further information, contact:

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

1224 526147.

Subsea 7 Corporate Communications:

Jackie Doyle, Head of Communications, Tel +44 (0)

7880-700044.

Notes to editors:

1. Subsea 7 Inc. is one of the world's leading subsea

engineering and construction companies offering all

the expertise and assets that make subsea umbilical,

riser and flowline (SURF) field development possible.

2. With a multi-national workforce in excess of 5,500

people worldwide, the Company's global offshore

operations are supported out of Africa, Asia Pacific,

Brazil, North America and the North Sea. Subsea 7

has a fleet of industry leading, dynamically-

positioned ships capable of reeled and flexible

pipelay, subsea construction and saturation diving

and a portfolio of pipeline construction yards

worldwide. (http://www.subsea7.com/)

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