Stolt Offshore Wins North Sea Work Worth $120 Million

Stolt Offshore has received six contracts and three Letters of Intent totalling approximately $120 million from customers operating in the North Sea. Stolt say the work is not expected to lead to more jobs, but would keep its staff employed comprising some 1,000 people in the North Sea, including 450 in Aberdeen.

In the UK sector of the North Sea, BP has awarded two contracts totalling $12.4 million for construction and installation of the gas import/export system for Clair Phase 1 and the tie-in of the Clair oil export and gas import/export pipeline systems. BP also awarded Stolt Offshore a contract for the design and construction of an 18-inch hot-tap into the 36-inch BP Forties Pipeline System valued at approximately $19.3 million.

A Letter of Intent has been issued for the engineering, procurement, installation and commissioning of a 29km 12-inch pipeline system, in the Southern sector of the North Sea. This work is valued at approximately $31.4 million. A Letter of Intent has also been received from Paladin for the installation of a new 10-inch, 8.5km water injection line between the Montrose and Arbroath platforms in the UKCS. This work is valued at $9.3 million.

The German oil company Wintershall Noordzee BV has awarded Stolt Offshore a $12.5 million contract for the installation of the 8-inch, 13.5km pipeline and a services umbilical between the Q5-A subsea completion and the platform at Q8-B in the Dutch sector of the North Sea.

In the Norwegian sector of the North Sea, Stolt Offshore has been awarded an $11.5 million contract from Statoil for installation work on the Aasgard field, and a Letter of Intent for the design, fabrication and installation of a 16-inch gas riser system at the Visund platform, a project valued at $8.3 million.

In addition, Conoco Phillips has contracted the EPIC Joint Venture (a Joint Venture between Stolt Offshore and Subsea 7) for subsea construction work associated with the Ekofisk Area Growth and 2/4 A Pipeline Replacement projects. Stolt Offshore's share of this contract will be approximately $15.5 million.

Added to site on 08/04/04

Back