PressReleases 
Articles 
Thursday, August 21st, 2008
Subsea 7 Inc (OSE Symbol: SUB), one of the world’s leading subsea engineering and construction companies, has won the first contract for its new fabrication and spoolbase facility at Port Isabel, Texas. The subsea pipelay fabrication and installation contract has been awarded by Marathon Oil Corporation and is valued at over US$ 45 million.
The supply agreement is part of Marathon’s previously disclosed procurement activities related to long lead time items associated with the Company’s Droshky discovery in the Gulf of Mexico. Marathon anticipates sanctioning the Droshky development in the fourth quarter of this year.
The contract has been awarded for the fabrication and installation of two 8” flowlines totalling 58 km at the Droshky field development which is located approximately 180 km south of Houma, Louisiana, USA in water depths ranging from 1,350 ft to 3,000 ft in Green Canyon block 244. Marathon holds a 100 percent working interest in the Droshky development.
Subsea 7’s full scope of work on the project includes project management, engineering, fabrication and installation services associated with the subsea infrastructure, including the flowlines, pipeline end terminations (PLETs) and risers. The pipeline will be fabricated at the company’s new fabrication and spoolbase facility at Port Isabel, Texas, development of which was announced in May 2008. Engineering work will be carried out from Subsea 7’s office in Houston. The offshore phase of the campaign will be carried out in the third quarter of 2009 and will be delivered by Subsea 7’s flagship rigid reeled pipelay vessel, the Seven Oceans.
Commenting on the award, John Evans, Chief Operating Officer for Subsea 7 said, “We are very pleased to be working with Marathon on this important project, which further solidifies Subsea 7’s position in the pipelay market in the region.”
Mel Fitzgerald, Chief Executive Officer, Subsea 7 commented: “This is a very significant contract for
Subsea 7. It justifies our investment in our new pipelay fabrication and spoolbase facility in Port Isabel and strengthens our position as the Subsea Partner of Choice for our customers in the Gulf of Mexico.”
For further information contact:
Barry Mahon, Chief Financial Officer, Subsea 7 Tel: +44 1224 344513
Subsea 7 Corporate Communications:
Claire Strachan, Tel: +44 1224 344493 or e-mail: claire.strachan@subsea7.com
Notes to editors:
1.Subsea 7 is one of the world’s leading subsea engineering and construction companies offering all the expertise and assets that make Subsea Umbilical, Riser and Flowline (SURF) field development possible.
2. With a multi-national workforce of over 5,500 people worldwide, the company’s global offshore operations are supported out of the North Sea, Africa, Brazil, North and Central America, and Asia Pacific. Subsea 7 has a fleet of industry leading, dynamically-positioned ships capable of reeled and flexible pipelay, subsea construction and saturation diving and a portfolio of pipeline construction yards worldwide. (www.subsea7.com)
3. Subsea 7’s North and Central America spoolbase will be located at Port Isabel, Texas and will be operational from mid 2009. The 58 acre site will have its own private 600 ft dock with deepwater access to the Gulf of Mexico. With a 4,000 ft long pipe stalk rack, it can produce pipe stalks of up to 20” diameter.
4. The Seven Oceans is a state-of-the-art purpose built deepwater rigid pipelay vessel fitted with an advanced reeled pipelay system, capable of operating in water depths of up to 3,000 m with a top tension capacity of 400 t.
5. Spoolbase and vessel images and specifications available on request – please contact above.
