Acergy S.A. announces investment in new state-of-the-art pipelay ship for operations in deepwater and harsh environments worldwide

Acergy S.A.
(NASDAQ-GS: ACGY; Oslo Stock Exchange: ACY)
announced today that it has acquired the Borealis, a
strategic enabler, which is expected to drive
superior returns for future activity.

This differentiating asset, currently being built at
the Sembawang Shipyard in Singapore, is a DP3
dynamic positioning vessel equipped with a 5,000T
crane. Acergy plans to install a 1,000T J-Lay tower
and state-of-the-art 600T S-Lay equipment. It will
also be fitted with a range of support systems and
construction equipment for worldwide deepwater and
harsh environment operations. Provision will be made
for accepting one of the Company’s heavy duty
flexible pipelay systems.

Final completion and operational delivery of the
ship is scheduled for H1 2012. Total costs, upon
delivery, are expected to be less than $500m,
including approximately $260m relating to the
acquisition of the ship and delivery as per the
original design. This investment will be funded
entirely from the Company’s existing cash resources.

Jean Cahuzac, Acergy’s Chief Executive Officer,
said: “The Borealis provides unprecedented
flexibility and capability, which together with our
engineering and project management expertise, will
enable us to meet our clients’ strategic needs,
particularly in deepwater and harsh environment

Our strong operating and financial position has
enabled us to capitalise on this unique opportunity
at an attractive price. This investment represents a
key milestone in Acergy’s long-term strategy
implementation. We expect this ship to be a
strategic enabler to exploit future market growth
opportunities and to generate superior returns for

Acergy S.A. is a seabed-to-surface engineering and
construction contractor to the offshore oil and gas
industry worldwide. We provide integrated services,
and we plan, design and deliver complex projects in
harsh and challenging environments.


Karen Menzel
Acergy S.A.
+44 (0)20 8210 5568
[email protected]

Similar Posts