Subsea 7 Awarded Contracts Offshore Norway

Luxembourg - 15 December 2017 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY)today announced the award of two contracts from alliance partner Aker BP in theNorwegian North Sea. The contracts are for the Skogul project and the ValhallFlank West project, which collectively are equivalent to a sizeable(1) award.The Skogul project (previously called Storklakken) is located 220 km northwestof Stavanger. This EPCI project is a long-distance tie-back to Alvheim FPSO viaVilje South field, using pipe-in-pipe technology. Project management andengineering will commence immediately with offshore operations scheduled in2019.The Valhall Flank West EPCI project comprises a 4 km tie-back to the ValhallCentre including an umbilical and riser system. Offshore operations willcommence in 2018 with completion in 2019.Phil Simons, Vice President North Sea & Canada, said: "Our partnership with AkerBP enables Subsea 7 to engage earlier in field development, optimising designsolutions and contributing to final investment decisions on marginal fields.These two contract awards demonstrate our successful way of working within thealliance partnership, providing cost effective and innovative technicalsolutions, along with an efficient, safe and quality focused project delivery."(1) Subsea 7 defines a sizeable contract as being between USD 50 million and USD150 million. 

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OffshoreNorwayContractSubsea 7Norwegian North SeaNorth SeaSkogul Project

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