Acergy S.A. Awarded $245 million Contract in Brazil

abarrelfullabarrelfull wrote on 20 Jul 2012 06:07

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June 20, 2006

Acergy S.A. (NASDAQ NM: ACGY; Oslo Stock Exchange: ACY), today announced that it had been awarded a deepwater installation contract valued at $245 million by Chevron Frade LLC, a subsidiary of Chevron, for the Frade Field development located in the Northern Campos Basin in Brazil.

The contract is for the installation of a 41 kilometre flexible gas import/export pipeline between the Frade FPSO and the Roncador pipeline manifold, together with flexible risers and well control umbilicals, in water depths ranging between 100 to 1,200 metres. Offshore installation is scheduled to take place throughout 2008.

Tom Ehret, Chief Executive Officer said, “We are very pleased with this contract award from Chevron in Brazil which, together with the recent award of the Petrobras PRA-1 contract, demonstrates our commitment to expand our position in this growing market. Both of these projects will be managed as cross-regional projects, with the engineering and project management activity carried out through our Houston office.”

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