Acergy Wins $28 Million Contract from Shell

Acergy has been awarded a contract by A/S Norske Shell for installation work on the Shell Draugen D3-E3 development project.

The contract, valued at NOK 171 million ($28 million), is for the installation of flexible pipe and umbilical, together with well control umbilicals and various other structures. The work will be carried out on the Garn West and Rogn South fields in the Draugen area in water depths of approximately 300 meters. In addition, Acergy will undertake all tie-in and testing work to hook up the new subsea wells.

Project management activity and engineering will be carried out from Acergy's office in Stavanger. Offshore installation work is scheduled to take place in summer 2008.

Acergy's Oyvind Mikaelsen, regional vice president Northern Europe and Canada said: "We are delighted to have been awarded this contract with Shell. This is the first development project Acergy has undertaken for Shell in Norway for a number of years. We look forward to building on our close relationship and working together on this project. We will use this opportunity to demonstrate our strong capabilities for project delivery to the highest standards of quality and safety. This award demonstrates the continued high demand for Acergy's services."

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