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    Acergy acquires Borealis

    Vessel & ROV News // December 17, 2009

    Acergy will equip Borealis with pipelay equipment.

    Acergy has announced that it has acquired Borealis, a DP3 dynamic positioned heavy lift vessel equipped with a 5,000 tonne crane that is being built at the Sembawang Shipyard in Singapore.

    Acergy plans to install a 1,000 tonne J-Lay tower and 600 tonne 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 the first half of 1012. Total costs, upon delivery, are expected to be less than US$500 million, including approximately US$260 million relating to the acquisition of the ship and delivery as per the original design.

    The investment will be funded entirely from the company’s existing cash resources.

    Jean Cahuzac, Acergy’s Chief Executive Officer, said: “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 acreage. 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 shareholders.”



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