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Subsea 7 Announces Award Of Services By Taqa Bratani Limited

18 December 2008

18 December 2008

Subsea 7 Inc (OSE Symbol:SUB), one of the world's leading subsea engineering and construction companies, announced today that it has been awarded a 1 year IRM (inspection, repair and maintenance) services agreement by TAQA Bratani Limited (part of the Abu Dhabi National Energy Company, PJSCPSJA) for the provision of project management, engineering, dive support and remote intervention services to assist with TAQA's newly acquired Northern North Sea assets.

TAQA became operator of its newly acquired assets: Cormorant North, Cormorant South, Eider, Kestrel, Tern and Pelican on 1st December 2008.

Robin Davies, Subsea 7's North Sea Vice President commented on the award: “The award of another significant subsea services agreement with a leading oil and gas operator further consolidates Subsea 7's position as the Subsea Partner of Choice. We look forward to building positive and rewarding relationships with TAQA, especially in what is an exciting time for them as they reach another important milestone on their journey in the North Sea oil and gas industry.”

A Subsea 7 project team, based in the company's new Aberdeen office, will manage work scopes under the frame agreement, the first of which commenced last week.