Subsea 7 Wins North Sea Contract

Subsea 7 has been awarded a North Sea contract valued at approximately US $85 million. The contract is for two years and will commence on January 1, 2007 and run through December 31, 2008.

Further information regarding this project will follow once we have received approval from our client to release the details.

Subsea 7 offers the oil and gas industry the opportunity to utilize 16 multi-purpose vessels, more than 100 remotely operated vehicles (ROVs). Four pipeline construction yards and a wide range of other assets which together with our strong engineering and project management teams combine to form this integrated company. These assets, together with our global expertise, resources and technology make Subsea 7 a major contractor in the offshore market.