Acergy with North Sea subsea installation frame agreement with DONG
Acergy S.A. (NASDAQ NM: ACGY; Oslo Stock Exchange: ACY) announced today the award of an offshore engineering and construction Frame Agreement with DONG Energy. This award positions Acergy as a preferred contractor to support the development and execution of DONG Energy`s subsea installation work in the North Sea for a period of four years, with options existing to extend a further four years. Under the Frame Agreement Acergy has currently secured work with a value of
approximately $60 million.
Øyvind Mikaelsen, Vice President, Acergy Northern Europe and Canada, said: `Acergy is especially excited by this award, as the opportunity exists to support DONG Energy through the complete lifecycle of subsea projects; from early concept engineering to offshore execution, with the potential to extend these services to provide field inspection, maintenance, repair and survey
services.
In addition, the duration and nature of the frame agreement should facilitate the ability to create added value which both parties will benefit from. On this basis, Acergy is looking forward to a fulfilling and successful long-term business relationship with DONG Energy.`
