Award for $170 million Offshore Australia contract to SapuraAcergy Joint Venture

abarrelfullabarrelfull wrote on 18 Jul 2012 06:47

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October 2, 2009

Acergy S.A. (NASDAQ-GS: ACGY; Oslo Stock Exchange: ACY) announced the award of a contract valued at approximately $170 million to SapuraAcergy Sdn Bhd by Apache Energy Limited for the Devil Creek Development Project (DCDP) offshore Australia.

The DCDP has been initiated to recover and process the gas reserves from the Reindeer Gas Field located 80km northwest of the port of Dampier in 60m water depth.

SapuraAcergy’s scope under the contract involves the transportation and installation of approximately 91km of 16” rigid pipeline including a shallow water beach approach, subsea tie-in and stabilisation works together with a wellhead platform of a 1,700T four leg jacket and a 450T topside processing module.

Engineering and project preparations will commence immediately in Kuala Lumpur and Perth. Offshore installation is scheduled to commence in late 2010 using the Sapura 3000, SapuraAcergy’s state of the art dynamic positioning heavy lift and pipelay vessel and project specific third party support vessels.

This project will be accounted for in the share of results of associates and joint ventures line in the Acergy accounts. For this reason, the value of this award will not appear in Acergy’s reported backlog and revenue.

Jean Cahuzac, Chief Executive Officer, Acergy said “This award represents an important development for our Joint Venture and signifies Sapura 3000’s entry into the promising Australian market. It demonstrates our capability and versatility by offering competitive solutions for both shallow and deepwater projects. Building upon recent successes we are confident that our Joint Venture and the highly specialised Sapura 3000 will perform strongly for our Client.”

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