Subsea 7 S.A. awarded $800 million contract offshore Norway

Luxembourg - November 15th, 2012 - Subsea 7 S.A.
(Oslo Børs: SUBC, the "Company") today announced the
award of a subsea, umbilical, riser and flowline
(SURF) contract valued at approximately $800 million
from Total E&P Norge AS for the development of the
gas field Martin Linge, located 180 km west of Bergen
in the North Sea.

The contract comprises engineering, procurement,
construction and installation (EPIC) of the complete
Subsea facilities on the field including: a 160 km
power cable from the Martin Linge platform to
Kollsnes; a 70 km export pipeline and associated
valve structures, umbilical and spools for the gas
export system; a 55 km fibre optic cable; and a 3 km
pipeline and riser system from the Martin Linge
platform to the floating storage unit. The contract
also includes transport and installation of the
mooring system for the floating storage unit.
Under the terms of this contract Subsea 7 will deploy
various pipelay, construction, diving, ploughing,
trenching and survey vessels during the offshore
period. The recently delivered Seven Borealis, which
provides a significant increase in our delivery
capability to North Sea customers, will install the
gas export pipeline on the project.

Engineering and project management will commence
immediately at Subsea 7's Stavanger office with
offshore operations due to commence in the spring of
2014. The duration of the contract is estimated at
four years.

Stuart Fitzgerald, Vice President Norway said:
"We are delighted with this very important award from
Total, which highlights the quality of our project
management and engineering expertise, the breadth of
our vessel fleet, the depth of our onshore
organisation, and our strong track record as an EPIC
contractor. This project is the largest SURF contract
ever awarded on the Norwegian Continental Shelf, and
as such represents a step change for our sector in
Norway."

"This project builds on the good experience we have
had with Total in Norway over many years, including
the recent successful delivery of the fast track Atla
tie-back project which commenced production during
October. Subsea 7 looks forward to successfully
delivering the Martin Linge project, with safety and
quality at the forefront throughout."

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Subsea 7 S.A. is a seabed-to-surface engineering,
construction and services contractor to the offshore
energy industry worldwide.
We provide integrated services, and we plan, design
and deliver complex projects in harsh and challenging
environments.
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Contact:
Paul Gooden
Subsea 7 S.A.
Tel +44 (0)20 8210 5568
Paul.Gooden@subsea7.com