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Contract Awards: Acergy S.A. awarded $700m contract for deepwater development offshore Angola

Posted on 08.01.2008 - 14:00 EST in CONTRACT AWARDS by Rons_ROV_Links

Acergy S.A. awarded $700m contract for deepwater development offshore AngolaAcergy S.A. (NASDAQ NM: ACGY; Oslo Stock Exchange: ACY) announced today the award from Total for the development of the deepwater PAZFLOR field, located offshore Angola in Block 17 in water depths between 600 to 1,200 metres.

The contract awarded to a consortium of Acergy S.A. and Technip is for $1.8 billion, of which Acergy’s share represents approximately $700 million.

Acergy’s scope includes the engineering, procurement, fabrication and installation of 55 km of water injection lines, gas injection and gas exports lines, umbilicals and over twenty rigid jumpers. It also includes the installation of all manifolds, three subsea separation units with associated umbilicals and the FPSO mooring lines, together with the overall pre-commissioning. All Acergy fabrication will be undertaken at the Sonamet yard in Lobito joint owned by Sonangol and Acergy. Engineering will commence with immediate effect with offshore installation scheduled to commence in mid 2010, using the Acergy Polaris and the Polar Queen.

Olivier Carre, Vice President Acergy Africa and Mediterranean, said, "We are delighted to be awarded this contract by Total, which demonstrates the confidence of the Block 17 partners and Sonangol in our capabilities and our ability to apply technological solutions that our customers require for deepwater subsea construction developed with local industrial assets in Angola. This substantial contract award further expands our already strong presence in West Africa and vindicates our confidence that we would see significant additions to our backlog."

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