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Acergy gets US$260 Million Contract from Petrobras

14 July 2009

Engineering and construction contractor Acergy S.A.has been awarded a new four year contract for flexible pipelay and subsea construction vessel Polar Queen by Petrobras, with an option for an additional four years.

The contract, valued at around US$260 million for the first four years, is for the provision of flexible laying services offshore Brazil. The contract is due to commence in early 2010.

The Norwegian-flagged Polar Queen is on a long-term charter from GC Rieber Shipping. The 147.8-meter (485.2-ft) vessel is equipped for flexible, umbilical and subsea structure installation in water depths of up to 2,000 meters (6,561.7 ft).