Luxembourg - 31 October 2023 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today
confirmed the award of a major(1) contract amendment by Petrobras for the
development of the Mero 4 field(2) located approximately 200 kilometres off the
coast of the state of Rio de Janeiro, Brazil, at 2,200 metres water depth in the
pre-salt Santos basin. The award was announced in redacted form on 27 September
2023(3) and was recorded in backlog in the third quarter of 2023.

The  contract  amendment  scope  includes engineering, procurement, fabrication,
installation   and  pre-commissioning  of  76 kilometres  of  rigid  risers  and
flowlines for the steel lazy wave production system.

Project  management  and  engineering  will  commence  immediately  at Subsea7's
offices  in Rio  de Janeiro  and Paris.  Fabrication of  the pipelines will take
place  at Subsea7's spoolbase at Ubu in the state of Espirito Santo and offshore
operations are scheduled to be executed in 2025 and 2026.

Yann  Cottart, Vice-President Brazil  said: "This contract  builds on decades of
experience  executing  major  EPCI  projects  around  the  world and extends our
portfolio of projects in Brazil. Subsea7 looks forward to continuing its strong,
collaborative  relationship with Petrobras  as we work  together to successfully
deliver the Mero 4 project."

 1. Subsea7 defines a major contract as being one where its share of revenue is
    over USD 750 million.
 2. Mero 4 is the fourth definitive project of Mero Unitized Field in Pre-salt
    that is operated by Petrobras (38.6%), in partnership with Shell Brasil
    (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal
    Petróleo SA (PPSA) (3.5%), representing the Government in the non-contracted
    area.
 3. https://newsweb.oslobors.no/message/600343

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Subsea7 is a global leader in the delivery of offshore projects and services for
the  evolving  energy  industry.  We  create  sustainable  value  by  being  the
industry's  partner and employer of choice  in delivering the efficient offshore
solutions the world needs.

Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI
222100AIF0CBCY80AH62.

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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 (0)20 8210 5568
ir@subsea7.com (mailto:ir@subsea7.com)

Forward-Looking  Statements:  This  announcement  may  contain  'forward-looking
statements'  (within  the  meaning  of  the  safe harbour provisions of the U.S.
Private  Securities Litigation Reform  Act of 1995). These  statements relate to
our   current  expectations,  beliefs,  intentions,  assumptions  or  strategies
regarding the future and are subject to known and unknown risks that could cause
actual  results, performance or events to differ materially from those expressed
or  implied in these statements. Forward-looking statements may be identified by
the  use  of  words  such  as  'anticipate',  'believe',  'estimate',  'expect',
'future', 'goal', 'intend', 'likely' 'may', 'plan', 'project', 'seek', 'should',
'strategy'  'will',  and  similar  expressions.  The principal risks which could
affect  future operations  of the  Group are  described in the 'Risk Management'
section  of  the  Group's  Annual  Report and Consolidated Financial Statements.
Factors that may cause actual and future results and trends to differ materially
from  our forward-looking statements  include (but are  not limited to): (i) our
ability  to deliver fixed price projects  in accordance with client expectations
and  within the  parameters of  our bids,  and to  avoid cost overruns