Subsea 7 — M&A Activity 2019

Sep 30, 2019

Subsea 7 awarded contracts offshore Azerbaijan

Subsea 7 awarded contracts offshore Azerbaijan

Luxembourg - 30 September 2019 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY)

announced today the award of two contracts, together representing a

sizeable((1)) contract award, by BP Exploration for the Azeri Central East (ACE)

project in the Azeri-Chirag-Deepwater Gunashli (ACG) field in the Caspian Sea in

a water depth of approximately 140 metres.

The work scopes comprise engineering and fabrication of subsea structures,

engineering, transport and installation of spools, the launching of a 16,200

tonne jacket and the float-over of an 18,500 tonne topside.

The contracts will be executed in consortium with BOS Shelf, which will be

responsible for the fabrication, logistics and facilities support. Engineering

work shall commence immediately from Subsea 7's office in France and offshore

execution is expected to take place in 2021 and 2022.

Gilles Lafaye, Subsea 7's Vice President Africa Region, said: "This project

reflects our long-term relationship and early engagement with BP Exploration and

builds on our Life of Field activities in Azerbaijan. We look forward to

increasing our presence in the Azerbaijani market with safe and reliable

solutions for its offshore energy developments."

((1)  )Subsea 7 defines a sizeable contract as being between USD 50 million and

USD 150 million. This value range refers to Subsea 7's share of the consortium

contract.

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Subsea 7 is a global leader in the delivery of offshore projects and services

for the evolving energy industry, creating sustainable value by being the

industry's partner and employer of choice in delivering the efficient offshore

solutions the world needs.

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

222100AIF0CBCY80AH62.

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Contact for investment community enquiries:

Isabel Green

Investor Relations Director

Tel +44 20 8210 5568

isabel.green@subsea7.com

www.subsea7.com

Contact for media enquiries:

Hariom Cavalcante

Communications and CSR Manager

Tel +33 (0)6 85 07 48 01

hariom.cavalcante@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 2017. 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.