Acergy
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| Industry | Petroleum |
|---|---|
| Fate | Merged with Subsea 7 |
| Successor(s) | Subsea 7 |
| Founded | 1970 |
| Defunct | January 2011 |
| Headquarters | Hammersmith, London, United Kingdom |
| Key people | Jean Cahuzac (CEO), Sir Peter Mason (Chairman) |
| Products | Offshore engineering and construction |
| Revenue | US $2.209 billion (2009)[1] |
| Operating income | US $342.7 million (2009)[1] |
| Profit | US $245.0 million (2009)[1] |
| Employees | 6,400 (2009)[1] |
Acergy S.A. was an international offshore seabed to surface engineering and construction company previously known as Stolt Offshore and Stolt Comex Seaway and was part of the Stolt-Nielsen Group until 2005. The company was registered in Luxembourg and had its headquarters in London in the United Kingdom as well as offices in Stavanger, Norway; Aberdeen, United Kingdom; Suresnes, France; Houston, United States; Rio de Janeiro, Brazil; Perth, Australia; St. John's, Canada and Singapore. The company was listed on the Oslo Stock Exchange and NASDAQ. In 2011 the firm merged with Cayman Islands-based Subsea 7, Inc. to create Subsea 7 S.A.
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[edit] History
The company started as the Haugesund based Stolt Nielsen Seaway and offered divers for the exploration of the North Sea in 1970. The company was part of the Stolt-Nielsen Group. In 1989 the company expanded to Aberdeen and in 1992 the company acquired the French diving company Comex Services. In 1997 the company won its first ultra-deepwater contract off West Africa, resulting in the acquisition of Houston based Ceanic Corporation, Danish NKT Flexibles and ETPM of France.[2]
In 2000 the company changed its name to Stolt Offshore. But poor management forced the company to narrow its focus and a new management was introduced in 2003. In 2005 the Stolt-Nielsen Group sold its ownership in the company and listed it on the Oslo Stock Exchange and NASDAQ. As of 1 March 2006 the company changed its name to Acergy.[2]
On June 21, 2010 it was announced that Acergy would acquire Subsea 7 for US $2.5 billion. The new entity, formed on 7 January 2011, took the Subsea 7 name[3] but retained Acergy's Luxembourg domicile and London headquarters.
[edit] Operations
The company had four main operational areas: Subsea Umbilical Risers and Flowlines (SURF); Inspection, Maintenance and Repair (IMR) and Conventional Field Development.[4]
[edit] Joint ventures
Main Joint Ventures included: Seaway Heavy Lifting in Netherlands, NKT Flexibles in Denmark, SapuraAcergy in Malaysia, Global Oceon Engineers in Nigeria.
[edit] Assets
Ships: Acergy Condor, Acergy Discovery, Acergy Eagle, Acergy Falcon, Acergy Harrier, Acergy Hawk, Acergy Legend, Acergy Osprey, Acergy Petrel, Acergy Viking, Far Saga (time charter), Skandi Acergy (time charter), Pertinacia, Polar Queen, Polarbjørn (time charter), Sapura 3000 (owned by SapuraAcergy Joint Venture), Stanislav Yudin (owned by Seaway Heavy Lifting Joint Venture), Oleg Strashnov (newbuild, owned by Seaway Heavy Lifting Joint Venture), Acergy Havila (Newbuild), Acergy Borealis (newbuild)
Barges: Acergy Polaris, Antares, Acergy Orion[5]
[edit] References
- ^ a b c d "Annual Report 2009". Acergy. http://ww7.investorrelations.co.uk/acergy/uploads/financialreports/AcergySA_2009AnnualReport.pdf. Retrieved 2010-04-04.[dead link]
- ^ a b Acergy. "Our History". http://www.acergy-group.com/public/OurHistory. Retrieved 2008-10-26.
- ^ Bhatia, Meera; Stigset, Marianne (21 June 2010). "Acergy Agrees to Acquire Subsea 7 for $2.5 Billion". Bloomberg Businessweek. Bloomberg. http://www.businessweek.com/news/2010-06-21/acergy-agrees-to-acquire-subsea-7-for-2-5-billion-update3-.html. Retrieved 7 July 2010.
- ^ Acergy. "What We Do". http://www.acergy-group.com/public/WhatWeDo. Retrieved 2008-10-26.
- ^ Acergy. "Acergy - November 2010 AGM". http://www.acergy-group.com/public/November2010EGM. Retrieved 2010-09-27.
