Silverstone Energy Awards Victoria Installation Contract to Acergy

Silverstone Energy Limited and its management contractor ADIL, have awarded a contract valued at 9 million ($18 million) to Acergy, a leading seabed-to-surface engineering and construction contractor, for installation work at the Victoria Field in the Southern North Sea.

The contract is for the installation of a flowline and control umbilical and associated subsea construction work to develop the Victoria Field gas well as a tieback to Viking BD platform. Work will take place in 2008 to meet a first gas date in the fourth quarter of the year.

Silverstone Energy's chief financial officer, Jim Brunton said: "Silverstone awarded the contract to Acergy because of their track record in delivering projects such as Victoria. We are looking forward to building a strong relationship with Acergy in order to deliver the project safely and within schedule and budget."

Oeyvind Mikaelsen, vice president Acergy Northern Europe and Canada, said: "We are delighted to have been awarded this contract with Silverstone which is quickly becoming a key independent player in the North Sea. This contract comes as a result of our continuing ability to deliver complex subsea projects on time and within budget while exceeding customer requirements. We look forward to working with Silverstone to bring this new field into production."

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