Acergy S.A. awarded contract offshore Brazil

Thursday, Dec 02, 2010

Acergy S.A. (NASDAQ-GS: ACGY; Oslo Stock Exchange: ACY) announced today the award of a contract from Petrobras for the Sul-Norte Capixaba Project, located offshore Brazil in water depths of between 30m and 100m.

Acergy is working in consortium with Odebrecht Oil & Gas on engineering, project management, procurement and fabrication related scope. Acergy’s project scope also includes the installation of an 18” 150 km rigid gas pipeline linking the Camarupim Field gas pipeline to the Parque das Baleias complex together with associated diving, construction and pre-commissioning activities. Total contract value is approximately $240 million, of which Acergy’s share is approximately $190 million.

Engineering will begin immediately with offshore installation scheduled to commence late 2011, using the Acergy Polaris and Acergy Harrier.
Bruno Chabas, Acergy’s Chief Operating Officer, said: “We are pleased to have been awarded this contract, which demonstrates our capability and versatility by offering competitive solutions for both shallow and deepwater projects. This award provides an excellent opportunity to build on our strong local presence and to work with an established local partner, while leveraging our expertise as a leading provider of SURF services in Brazil.”

Source: Acergy