Acergy Completes Sale of Semisubmersible Pipelay Barge for $78MM

Acergy has completed the sale of Acergy Piper to Saipem (Portugal) Comercio Maritimo S.U. Lda for $78 million.

Acergy Piper, a semisubmersible pipelay barge, which has operated primarily in the North Sea and more recently on the Mexilhao Project in Brazil, is the Company's sole operating unit in the non-core trunkline market.

Jean Cahuzac, Chief Executive Officer, said "This is another step forward in our fleet management program enabling us to continue to differentiate our capabilities in the difficult and harsh environments in which we operate. The sale further enhances our already strong balance sheet and allows management to concentrate on our core markets.

"I would like to thank those who have been involved in Acergy Piper activities for their work and wish them continued success."