Subsea 7 awarded project offshore US Gulf of Mexico

Luxembourg – 26 January 2022 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial1 project for subsea installation services related to Beacon Offshore Energy LLC’s Shenandoah Development, located offshore Gulf of Mexico in water depths up to 6,300 feet.

The project covers the tie-back of four subsea wells to the Shenandoah host

facility through a subsea manifold with dual flowlines and risers. The work scope includes engineering, procurement, construction, installation (“EPIC”) and commissioning of the subsea equipment including structures, umbilicals, and production and gas export flowlines. Subsea 7’s scope also includes the wet tow and hook-up of the semi-submersible FPS to the field and mooring system installation.

Project management and engineering will commence immediately at Subsea 7’s offices in Houston, Texas. Fabrication of the flowlines and risers will take place at Subsea 7’s spoolbase in Ingleside, Texas, with offshore operations scheduled for 2024.

Craig Broussard, Vice President for Subsea 7 US, said, “We are pleased to have been selected as a partner for the delivery of the Shenandoah development. This project allows Subsea 7 to demonstrate the full capacity of our offering, including our extensive involvement in mooring and installation of host facilities, EPIC activities related to the flowline system, and utilizing our industry leading experience and welding capabilities to support the development of high-pressure fields. We look forward to building on the collaborative approach demonstrated by the Shenandoah project to form a long-term cooperative relationship in support of Beacon Offshore Energy’s future growth plans.”

1 Subsea 7 defines a substantial project as being between USD 150 million and USD 300 million.

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Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

Subsea 7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.