The Oslo-listed group said it had torn up 19.62m treasury shares.
This represents 5.58% of its capital, bringing this figure down to $860.74m.
It has 1.18m treasury shares remaining in its ownership.
Subsea 7 is still buying back its stock, however.
It announced on Friday the acquisition of 390,000 shares at an average price of NOK 74.18 each, meaning an outlay of around NOK 28.93m ($4.14m).
