Acergy-Subsea7 Consortium Win Statoil Frame Contract

Acergy S.A. said that it has been awarded, in a consortium with Subsea7 Inc, a 2-year frame agreement contract by Statoil ASA. This contract will cover all of Statoil's subsea installation work in the Norwegian Sea and North Sea throughout 2007 and 2008. The total value to the consortium for firm work awarded so far is approximately $80 million, with further installation projects of a similar value expected.

The firm work awarded to date includes subsea installation for the Tyrihans Marine Operations project, including installation of the control umbilicals, risers, flexible jumpers, protection structures, and tie-in of five templates. The Tyrihans template installation is scheduled to take place in 2007, with the remainder of the scope being performed in 2008. Other work agreed under the contract award to date includes the installation of the template for water injection in the Tordis IOR (Increase Oil Recovery) and the template installation for the Yttergryta development project. Work on both projects is scheduled to be carried out during 2007.

“We are very happy to have been awarded the Statoil Frame Agreement Contract in a consortium with Subsea7,” said Øyvind Mikaelsen, Vice President Acergy Northern Europe and Canada. “Earlier this year Statoil ASA awarded Acergy a separate contract to carry out the pipeline installation works on the Tyrihans oil and gas field development project in the Norwegian Sector of the North Sea. Both awards demonstrate the continued high demand for Acergy's services for a number of years ahead."

Acergy S.A. is a seabed-to-surface engineering and construction contractor for the offshore oil and gas industry worldwide. It plans, designs, and delivers complex, integrated projects in harsh and challenging environments.

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