London-based Acergy S.A. (ACGY), previously known as Stolt Offshore S.A. (SOSA), is a leading oilfield contractor engaged in the designing, procurement, building, installation, and servicing of a range of offshore surface and sub-surface equipment for the oil and gas industry. This equipment includes the above-water topsides and platforms used for processing oil and gas, pipelines, and electrical and hydraulic cables (also called umbilicals') used to control sub-sea wells. The company also provides field-decommissioning services (the removal of offshore structures and equipment) after the field has been depleted and is to be abandoned.
Acergy S.A. classifies its service capabilities into these five areas: Sub-sea construction, Umbilicals, Risers, and Flowlines (SURF) Conventional (includes construction of above-water platforms) Inspection, Maintenance, and Repair (IMR) Trunklines (includes the installation of large-diameter pipelines offshore) and Corporate. The company reports its operations on a regional basis: Africa, the Mediterranean and the Caspian Sea (AFMED), Northern Europe and Canada (NEC), North America and Mexico (NAMEX), South America (SAM), and Asia and the Middle East (AME). Activities, which cover more than one region, are classified under the Corporate segment. In fiscal year 2006 (fiscal year ends on November 30th), the AFMED, NEC, NAMEX, SAM, and AME segments accounted for 49%, 39%, 2%, 4%, and 6%, respectively of the company's total revenue. During the first nine months of the fiscal 2007, contributions to revenue from these regions were 51%, 38%, under 1%, 8% and 3% of the total, respectively. The Corporate segment's contribution to 2006 revenue was insignificant. The company has announced the sale of its Conventional and IMR assets however, it will continue to use those assets to complete currently ongoing projects.
Acergy announced strong order backlog growth of 20% y-o-y to US$3.3 bn in 3Q 08.