Acergy S.A. awarded $120 million contract

Tuesday, May 25, 2010

Acergy S.A. (NASDAQ-GS: ACGY; Oslo Stock Exchange:ACY) announced today the award of a contract valued at approximately $120 million, offshore Nigeria in shallow water depths.

This contract includes the removal of existing risers and the installation of approximately 15km of new pipelines and associated risers, together with associated diving and hook-up activities.

Construction engineering will commence immediately, with offshore installation due to commence in Q1 2011.

Bruno Chabas, Acergy’s Chief Operating Officer, said: “We are pleased to have been awarded this contract, which builds on our strong local presence and provides an excellent opportunity to leverage our expertise, re-enforcing Acergy’s strong presence in the upgrade and maintenance of complex conventional field developments in West Africa.”

Source: Acergy