Acergy S.A. awarded $250 million contract in Angola

abarrelfull wrote on 17 Jul 2012 10:58
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December 15, 2008

Acergy S.A. (NASDAQ- GS: ACGY; Oslo Stock Exchange: ACY) announced today the award from Angola LNG Limited of a contract for the development of the nearshore/onshore segment of the pipeline network required for the transportation of gas from Blocks 0, 14, 15, 17 and 18 to Angola LNG’s plant in Soyo, Angola.

Angola LNG Limited’s shareholders are affiliates of Chevron, Sonangol, BP, Total and ENI.

The contract awarded to a consortium of Acergy S.A. and Spiecapag, a subsidiary of Entrepose Contracting (ISIN: FR0010204321), is for $550 million, of which Acergy’s share represents approximately $250 million.

Acergy’s nearshore scope includes the engineering, procurement, fabrication and installation of approximately 50km of pipeline from Blocks 0, 14, 15, 17 and 18. It also includes the shore approach and above water tie-ins for these pipelines, together with the offshore crossing and hydrotesting. Engineering will commence with immediate effect with offshore installation scheduled to commence in the fourth quarter of 2009, using Acergy Hawk, Acergy Legend and Acergy Polaris.

Olivier Carre, Vice President Acergy Africa and Mediterranean, said: “We are delighted to have been awarded this contract which represents an important development in Angola’s plans to reduce flaring from deep water blocks through the production of Liquefied Natural Gas (LNG) and condensate. This contract award re-enforces Acergy’s strong presence in West Africa.”

• Acergy S.A. awarded $250 million contract in Angola

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