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    Subsea 7 appoints new director - Acergy merger due to be completed in January

    Company News // December 21, 2010

    Subsea 7 has announced that at the recent Extraordinary General Meeting of Shareholders of Acergy, which plans to merge with Subsea 7, the sole agenda item, to appoint Bob Long as the ninth Director of the Board of Subsea 7, was approved by over 99 per cent of the votes cast. The appointment is subject to completion of the proposed combination of Subsea 7 and Acergy.
     
    Completion of the combination is expected to occur in January 2011, subject to customary closing conditions. The minutes of the Meeting detailing the resolution proposed and the result of the poll on resolution are available at http://www.acergy-group.com/public/AcergySubsea7combination.  
     
    Mr Long served as Chief Executive Officer and a member of the board of directors of Transocean Ltd, the world's largest offshore drilling contractor, from October 2002 until his retirement in February 2010.

    Mr Long served as President from 2001 to 2006, Chief Financial Officer from 1996 to 2001 and Senior Vice President of Transocean from May 1990 until the time of the Sedco Forex merger, at which time he assumed the position of Executive Vice President.

    During his 35 year career with Transocean, Mr Long’s international assignments included the UK, Egypt, West Africa, Spain and Italy.
     
    Mr Long is a graduate of the US Naval Academy and Harvard Business School, and served five years in the Naval Nuclear Power Programme before joining SONAT Inc, the parent company of The Offshore Company, in 1975. As a result of multiple mergers The Offshore Company ultimately became Transocean Ltd.

    Mr Long was until recently a member of the National Ocean Industries Association and the International Association of Drilling Contractors. Mr Long is a US citizen.

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