Top News of the Week of June 24 – June 30, 2013

1. PSA Investigates Incident on DSV Skandi Arctic in North Sea

An investigation has been launched by the Petroleum Safety Authority Norway into a serious incident on diving support vessel Skandi Arctic on 22 June 2013.

2. Subsea 7 Provides Update on Guará-Lula NE Project Offshore Brazil

Subsea 7 S.A. announced an increase in the estimated full-life project loss on the Guará-Lula NE project, offshore Brazil. As a result, the Company no longer expects full year Adjusted EBITDA to show progress compared to 2012.

3. Cameron and Schlumberger Complete OneSubsea JV

Cameron and Schlumberger announced that OneSubsea™, a joint venture to manufacture and develop products, systems and services for the subsea oil and gas market, has received all required regulatory approvals. The parties will close the transaction making OneSubsea operational on June 30, 2013.

4. SapuraKencana Wins PLSV Contracts from Petrobras (Brazil)

SapuraKencana Petroleum Berhad (“SapuraKencana”) announces that its subsidiary Sapura Navegação Marítima S.A., Brazil (“SNM”) has been awarded contracts from Petrobras to charter and operate three Pipe Laying Support Vessels (“PLSV”).

5. Saipem Nets $3 Bln Egina Subsea Development Contract

Saipem has been awarded the contract for the subsea development of the Egina field, in Nigeria, in a water depth up to 1,700 metres.