Global subsea engineering and construction contractor Subsea 7 is prepared for
continued expansion following the successful deployment of a new global ERP system
carried out in collaboration with Capgemini UK plc which will also support the
system on an outsourcing basis for an initial three-year period.

Subsea 7 operates in the North Sea, Gulf of Mexico, Brazil, Asia Pacific and
West Africa and is one of the world’s leading subsea engineering and construction
contractors, offering its global expertise, resources and technology to meet challenges
in shallow or deepwater developments.

The new ERP system, which went live in April 2006, is based on SAP technology.
The global solution heavily leverages SAP NetWeaver with Business Warehouse, Enterprise
Portal and SAP Mobility, and includes SAP ERP modules for finance, HR, payroll,
procurement, materials management, production planning, plant maintenance and
project systems. Fixed and mobile end-users will include some 1100 of the company’s
3,600 employees in locations worldwide.

Graeme Smith, Project Manager at Subsea 7, said: ‘We are delighted that the combined
Capgemini and Subsea 7 project team have completed this mission-critical system
build on time, in budget and fully up to our expectations. Capgemini won the contract
against other bids because of their willingness to study our needs in depth, and
work with us in a fully collaborative partnership, and these factors were crucial
to success. We look forward to continuing to work with them in the years to come.’

Capgemini’s Rightshore ™ strategy was key to both the system build contract and
subsequent outsourcing contract. Much of the applications development was carried
out at Capgemini’s development centres in Mumbai and Bangalore, India. The systems
are being hosted from a Capgemini secure data centre in Rotherham, UK, with applications
support provided from India, using the same team that worked on development in
order to provide continuity.

The new system replaces earlier-generation SAP facilities provided to Subsea
7 by its former shareholder, Halliburton Inc.

Capgemini Director John Waymire said: ‘The success of this project reflects our
expertise in SAP and in oil and gas, and puts us in pole position to win further
significant projects in the vibrant Aberdeen oil and gas market.’

-ENDS-

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Notes for Editors

About Subsea 7

With a workforce of 3600 people worldwide, Subsea 7 is one of the world’s leading
subsea engineering and construction contractors. The company’s global offshore
operations are supported out of Asia Pacific, Brazil, Gulf of Mexico, Norway,
UK and West Africa. Subsea 7 has more than 100 remotely operated vehicles (ROVs),
five pipeline construction yards and a fleet of modern, high specification dynamically
positioned ships capable of deepwater reeled and flexible pipelay, deepwater subsea
construction and saturation diving. www.subsea7.com

Subsea 7’s shares trade on the Oslo Stock Exchange (www.ose.no): Ticker Code SUB.

About the Capgemini Group

Capgemini, one of the world’s foremost providers of Consulting, Technology and
Outsourcing services, has a unique way of working with its clients, which it calls
the Collaborative Business Experience. Through commitment to mutual success and
the achievement of tangible value, Capgemini helps businesses implement growth
strategies, leverage technology, and thrive through the power of collaboration.
Capgemini employs approximately 61.000 people worldwide and reported 2005 global
revenues of 6,954 million euros.

More information about individual service lines, offices and research is available
at www.capgemini.com