Subsea 7 Announces $26M Contract for Total E&P Nederland BV in the North Sea

20 April 2009

Subsea 7 Inc , one of the world's leading subsea engineering and construction companies, announced today that its subsidiary, Subsea 7 Ltd, has been awarded an engineering, procurement, installation and commissioning (EPIC) contract by Total E&P Nederland BV for the flowlines and subsea works on the K5CU Development Project in the Dutch sector of the North Sea. The contract is valued in excess of $26 million.

The Subsea 7 work scope is to engineer, procure, install and commission 15km of 10” gas and 3” di-ethylene glycol* (DEG) pipeline - connecting the new un-manned K5CU satellite platform with the existing K5A riser platform. In addition, Subsea 7 will install a caisson* riser system at the K5A platform and complete pre-commissioning activities topside to topside from K5CU to K5A.

Work will commence with engineering in Q2 2009, followed by fabrication of the rigid pipelines at Subsea 7's North Sea Spoolbase at Vigra, Norway, concluding with offshore installation during the summer of 2010 using Subsea 7 in-house pipelay and construction vessels.

Subsea 7's Vice President for the UK Region, Robin Davies, commented:

“We are delighted that Total has once again chosen Subsea 7 to perform a North Sea field development project for them. It supports our vision of becoming the Subsea Partner of Choice in our industry and we very much look forward to bringing K5CU on-stream in a safe and timely manner.”

The K5CU field is located in the K5-B area of the Dutch Sector of the North Sea.