The saturation level of dissolved oxygen in contact with a moist atmosphere is
$$c = 0.21(p_\mathrm{atm} - p_\mathrm{vap}) K_\mathrm{H} M$$
where the $p_\mathrm{atm}$ and $p_\mathrm{vap}$ are the atmospheric and vapour pressures, respectively; $K_\mathrm{H}$ is the Henry's law constant, and $M$ is the molar mass.
If I take this volume of water away from the atmospheric interface, and reduce the pressure, does the saturation level equation stay the same as above, except swapping out $p_\mathrm{atm}$ for $p_\mathrm{local}$?