Luxembourg - 22 May 2023 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today
confirmed the award of a major(1) contract by Turkish Petroleum for the second
phase of the Sakarya field development offshore Türkiye in the Black Sea.

The  award for this two-phase subsea  development was announced in redacted form
on  12 May 2023. The first phase has been  recorded in the backlog in the second
quarter  of  2023 and  the  second  phase,  expected in 2024, remains subject to
sanction by the client.

The  contract is awarded  to a consortium  including Subsea7 and  its partner in
Subsea  Integration  Alliance,  OneSubsea(®2),  as  well  as SLB and Saipem. The
integrated  project  scope  of  the  engineering, procurement, construction, and
installation  (EPCI)  contract  will  cover  the  subsurface solutions including
subsea production systems (SPS), subsea umbilicals and flowlines (SURF).

The  scope of work to be executed by Subsea7 comprises the EPCI of approximately
37 kilometres  of  infield  flowlines,  47 kilometres  of control umbilicals and
associated  subsea equipment in water depths  of 2,000 metres. The contract also
includes  additional FEED  studies and  options to  further extend  the scope of
work.

Project  management and engineering  will be managed  from the Subsea7 office in
Istanbul,  Türkiye and offshore  activities are expected  between Q2 2025 and Q3
2025, with   optional  scope  between  Q4  2026 and  Q4  2027 subject  to  final
investment decision by the client.

Franck  Louvety, Africa, Middle East & Caspian Vice President said: "Through the
close  collaboration of Subsea7,  OneSubsea(®) and Turkish  Petroleum, first gas
from Sakarya Phase 1 was delivered just 30 months after discovery. Subsea7 looks
forward   to   extending  this  relationship  for  Phase  2 and  continuing  our
contribution to the development of the energy industry in Türkiye."

(1)   Subsea7 defines a major contract as being one where Subsea7's share of
revenue over USD 750 million.

(2)   OneSubsea(®) is the subsea technologies, production, and processing
business of SLB

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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)

Contact for media enquiries:
Hariom Cavalcante
Communications Manager
Tel +33 (0)6 85 07 48 01
hariom.cavalcante@subsea7.com (mailto:hariom.cavalcante@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