Acergy wins $1.3b deal for Angola offshore field

Oslo: Acergy SA, a UK provider of oil services that is buying rival Subsea 7 Inc., was awarded a $1.3 billion (Dh4.77 billion) contract at a deepwater project in Angola operated by Total SA.

The London-based company got an order for engineering, procurement, fabrication and installation of a "significant" deepwater development off West Africa, according to a statement yesterday.

The shares rose as much as 4.6 per cent in Oslo and were up 3.9 crowns (Dh2.32) at 102.6 crowns at 10:13am local time. Subsea rose 3 per cent. "It relates to a project offshore Angola called Clov," Karen Menzel, head of investor relations at Acergy, said by phone. "There's a number of parties involved, but the lead operator is Total."