Subsea 7 — M&A Activity 2017

Oct 18, 2017

Subsea 7 agreement to acquire Normand Oceanic

Subsea 7 agreement to acquire Normand Oceanic

Subsea 7 agreement to acquire Normand Oceanic

Luxembourg - 18 October 2017 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR:

SUBCY) (the Group) today announced an agreement to acquire the

remaining 50% shareholdings in its equity accounted joint ventures,

Normand Oceanic AS and Normand Oceanic Chartering AS, from Solstad

Farstad ASA for a nominal cash consideration.

Effective from the date of the transaction, the Group will become

the sole owner of Normand Oceanic, a flex-lay and heavy construction

vessel that is being managed by Solstad Farstand while under long-

term charter to a third party. The Group will assume all obligations

related to an outstanding loan of approximately $100 million.

Normand Oceanic AS and Normand Oceanic Chartering AS will become

wholly-owned subsidiaries of the Group.

Jean Cahuzac, CEO, said "Our agreement to acquire Normand Oceanic

reflects our strategy to own high-specification vessels that

differentiate our market leading engineering and construction

services to the offshore energy industry. We are focused on actively

managing our fleet composition to meet our clients' requirements and

market conditions."

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Subsea 7 S.A. is a leading global contractor in seabed-to-surface

engineering, construction and services to the offshore energy

industry. We provide technical solutions to enable the delivery of

complex projects in all water depths and challenging environments.

Subsea 7 is listed on the Oslo Bors (SUBC), ISIN LU0075646355.

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Contact for enquiries:

Isabel Green

Investor Relations Director

Tel +44 208 210 5568

isabel.green@subsea7.com

www.subsea7.com

Forward-Looking Statements: Certain statements made in this

announcement may include 'forward-looking statements'. These

statements may be identified by the use of words like 'anticipate',

'believe', 'could', 'estimate', 'expect', 'forecast', 'intend',

'may', 'might', 'plan', 'predict', 'project', 'scheduled', 'seek',

'should', 'will', and similar expressions. The forward-looking

statements reflect our current views and are subject to risks,

uncertainties and assumptions. The principal risks and uncertainties

which could impact the Group and the factors which could affect the

actual results are described but not limited to those in the 'Risk

Management' section in the Group's Annual Report and Consolidated

Financial Statements 2016. These factors, and others which are

discussed in our public announcements, are among those that may

cause actual and future results and trends to differ materially from

our forward-looking statements: actions by regulatory authorities or

other third parties; our ability to recover costs on significant

projects; the general economic conditions and competition in the

markets and businesses in which we operate; our relationship with

significant clients; the outcome of legal and administrative

proceedings or governmental enquiries; uncertainties inherent in

operating internationally; the timely delivery of vessels on order;

the impact of laws and regulations; and operating hazards, including

spills and environmental damage. Many of these factors are beyond

our ability to control or predict. Other unknown or unpredictable

factors could also have material adverse effects on our future

results. Given these factors, you should not place undue reliance on

the forward-looking statements.