Acergy S.A. and Subsea 7 Inc. Combination - OFT Considers Proposed Undertakings

London, England - December 22, 2010 - Acergy S.A.

(NASDAQ-GS: ACGY; Oslo Stock Exchange: ACY). On

September 23, 2010, Acergy S.A. and Subsea 7 Inc.

(Oslo Stock Exchange: SUB) submitted a notification

to the UK Office of Fair Trading (OFT) regarding the

parties proposed merger.

The OFT announced on December 21, 2010 that it is

considering undertakings from the parties in lieu of

referring the proposed merger to the UK Competition

Commission. The OFT is considering the following

undertakings offered by the parties: the divestiture

of one pipelay vessel and potentially one diving

vessel.

The OFT's announcement follows prior unconditional

clearances received from the relevant authorities in

the US, Norway and Australia.

The parties have yet to review the details of today's

decision by the OFT and will issue a further

statement in due course. The parties continue to

expect to close the transaction as scheduled in

January 2011, subject to remaining closing conditions.

Information on this decision can be found on the

OFT's website at: www.oft.gov.uk

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Acergy S.A. is a seabed-to-surface engineering and

construction contractor to the offshore oil and gas

industry worldwide. We provide integrated services,

and we plan, design and deliver complex projects in

harsh and challenging environments.

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Contact:

Karen Menzel

Acergy S.A.

+44 (0)20 8210 5568

www.acergy-group.com

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