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Subsea 7 Announces Contract for Maersk Oil

27 August 2009

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 contract for installation of flexibles and umbilical jumpers and tie-in/testing work at Maersk Oil North Sea UK Ltd's (Maersk Oil) Gryphon South and Tullich fields, in the UK sector of the North Sea.

The Subsea 7 work scope is to install flexibles and umbilical jumpers and complete tie-in and testing of 2 wells in the ‘Gryphon' and ‘Tullich' infrastructure.

Offshore work will commence in Q4 2009 and will be performed by Subsea 7's dive support vessel (DSV), the Seven Pelican. (Picture attached)

Subsea 7's Vice President for the UK Region, Steph McNeill commented:

“The award of another contract with a leading oil and gas operator further consolidates Subsea 7's position as the Subsea Partner of Choice,and helps usmaintain the activity levelsof our fleet throughout the year. We look forward to the safe and successful completion of this project for Maersk”

The Gryphon and Tullich fields are tied back and produce through the Maersk Oil Gryphon Floating, Production, Storage and Offloading (FPS0) vessel. The Gryphon field is located in Block 9/18b and the Tullich field is located in Block 9/ 23a, 320km North East of Aberdeen.