PRIMARY INSIDER NOTIFICATION FORM - AWARD OF RESTRICTED STOCK OPTIONS

Please be advised that I, Mel Fitzgerald, being a
Primary Insider of Subsea 7 Inc. (the "Company") have
surrendered 166,500 Share Options with an exercise
price of 29.49 NOK and received an award of 77,600
restricted stock under the Company's Restricted Stock
Award Plan. These restricted stock awards will vest
on 7th April 2011.

Following this surrender of options and award of
restricted stock, I will hold 69,586 shares and
110,473 restricted stock awards in the Company.