Subsea 7 — M&A Activity 2014

Feb 28, 2014

Subsea 7 S.A. awarded $75 million contract offshore Canada

Subsea 7 S.A. awarded $75 million contract offshore Canada

Luxembourg - 28 February 2014 - Subsea 7 S.A. (Oslo

Børs: SUBC) today announced the award of a US$75

million three-year subsea construction services

contract by ExxonMobil Canada Properties.

The contract supports the Hebron heavy oil field

development, located in the Jeanne d'Arc Basin 350

kilometres southeast of St. John's, Canada.

The contract scope includes the project management,

engineering and installation of two Offshore Loading

Systems in a water depth of 92 metres. Engineering

and project management will begin immediately from

Subsea 7's offices in St John's.

Stephen Henley, Managing Director of Subsea 7 Canada,

said: "This contract award further enhances our

construction capability across offshore Canada,

building on the successes of our subsea engineering

and construction work for our clients in the region."