Acergy S.A. Announces First Quarter Results

Market Wire, April, 2007

Acergy S.A. (NASDAQ: ACGY) (OSLO: ACY) announced today unaudited results for the first quarter which ended on February 28, 2007.

Financial Highlights

                                                     Three Months Ended
                                                   ----------------------
in $ millions                                      Feb.28.07    Feb.28.06
                                                   Unaudited    Unaudited
                                                   ---------    ---------
Net operating revenue from continuing operations   $   565.8    $   367.6
Gross profit                                            84.3         50.9
Net operating income from continuing operations         49.4         27.6
Income from continuing operations                       36.2         20.4
Income from discontinued operations                      4.2          4.1
Gain on disposal of discontinued operations                -         16.4
Net income                                         $    40.4    $    40.9


PER SHARE DATA (Diluted)                             Three Months Ended
                                                   ----------------------
                                                   Feb.28.07    Feb.28.06
                                                   Unaudited    Unaudited
                                                   ---------    ---------
Earnings per share from continuing operations      $    0.18    $    0.10
Earnings per share from discontinued operations    $    0.02    $    0.11
Net earnings per share                             $    0.20    $    0.21

Weighted-average number of common shares
 issued (millions)                                     216.8        196.8

Highlights

--  A high level of activity in a traditionally low quarter
--  Commercial activity globally was at a particularly high level during
    the quarter
--  Two significant contract awards in Norway -- a $140 million award for
    Marathon and a $120 million award for Statoil
    

Post Quarter Activity

--  Award of $400 million Mexilhão trunkline contract for Acergy Piper in
    Brazil in 2008
--  Pertinacia sailed on March 18th to start long term contract in Brazil
    

Tom Ehret, Chief Executive Officer, said, "We have had an encouraging start to the year with a high volume quarter in West Africa and the North Sea and earnings in line with our expectations. We still have a challenging year ahead of us with major projects in the early part of the installation phase. As previously indicated, we expect that quarterly earnings may show some volatility. The Greater Plutonio installation continues on track and we expect most of the construction work on this project to be behind us by the time we report second quarter results. The Pertinacia, the first of the five new ships that will be delivered this year, has joined the fleet since quarter end."

Acergy Africa and Mediterranean -- This was another very active quarter in Africa with the installation of Moho Bilondo now in progress and EPC2B now substantially completed. The steady rate of progress on Greater Plutonio continues with most of the flowlines now laid, the FPSO moored and preparation ongoing for the riser tower installation in the second quarter. The high level of activity in this region is expected to continue throughout the year. The awards of many of the major contracts that were bid in 2006 and others now going through the bidding process are expected to be delayed until the latter part of 2007 and possibly into 2008, due to rising costs and local constraints.

Acergy Northern Europe and Canada -- In an unusually active first quarter for the North Sea, the Eldfisk pipelay and the Britannia Satellites projects were completed and progress was made on a number of other projects. The Marathon Volund award and the Statoil five year frame agreement for survey work were won during the quarter and the very large Nord Stream trunkline project has been bid. Strong market conditions continue to be experienced.

Acergy North America and Mexico -- The discontinued business in Trinidad is now substantially complete. Engineering services for projects in Brazil are helping to meet the fixed costs in this region. A high level of tendering for the international market and for the Gulf of Mexico continues.

Acergy South America -- Both ships on long term contracts experienced down time due to thruster problems. This offset the effect of revenue growth in what was otherwise a higher volume quarter for Brazil as the PRA-1 contract progressed to the installation phase. The award of the $400 million Mexilhão contract by Petrobras for the Acergy Piper, since quarter end, is expected to be a major contribution to the growth of our business in this region in 2008.

Acergy Asia and Middle East -- The Kerisi project was completed during the quarter and the Dai Hung project progressed. The Toisa Proteus will start work on the Maari and Vincent projects when she joins the fleet in the second quarter. Commercial activities are now running at a very high level confirming our expectations for the development of this region.