Acergy and Subsea 7 terminate merger talk
2008.10.21 -
Subsea Headlines
The Board of Acergy today inform Shareholders that it has held discussions with Subsea 7 Inc. in relation to a possible merger of the two companies. These discussions have now been terminated.
Mark Woolveridge, Chairman, said: “The Acergy Board gave this approach its fullest consideration, but decided to continue with its independent strategy. With our position as one of the leading companies in the SURF sector, our high quality fleet, operating excellence and good backlog, we remain well positioned for profitable growth. Furthermore, in a challengin period in financial markets, our strong balance sheet underpins the Board’s confidence in the Group’s ability to deliver value for shareholders.”
Applied Acoustics has recently announced the sale of its 50th Easytrak subsea tracking system at Offshore Europe, Aberdeen. The system is one of a pair that has been ordered by CaspianLab in Azerbaijan for use in their operations in the Caspian Sea.
The Tampen Link pipeline for gas export from the North Sea’s Statfjord field to the St Fergus gas terminal in Scotland opened on Friday evening. The field is consequently beginning a new era.
StatoilHydro, as operator of the Troll field, has recommended to its partners to discontinue the Troll Future Development project.
Petrobras Americas Inc. has awarded Aker Kvaerner a contract to supply subsea power cables and control umbilicals to its Cascade and Chinook fields in the Gulf of Mexico. The contract, worth approximately USD 65 million, represents a significant breakthrough for Aker Kvaerner's power cable technology.
StatoilHydro will today, 25th of October, sign a frame agreement with Gazprom to become partner in the Shtokman development, phase 1.
