Bouygues Offshore Awarded Two Turnkey Contracts

Bouygues Offshore has signed two turnkey contracts with Compagnie des Petroles Total Libye (CPTL) as part of the development of field B in Block 137, located about 62 miles offshore Libya along the Tunisian border. The first contract is valued at US $54 million and covers engineering, procurement, construction and installation of a platform consisting of a 1,700 metric ton, three-story deck and a 6,200 metric ton jacket both fabricated by ROSBOS in the Ravenna Yard in Italy. The production capacity of the platform, installed in approximately 295 feet of water, will be 35,000 barrels per day of oil. Delivery of the platform is schedule for late 2002.

The second turnkey contract is valued at US $32 million. The second contract covers engineering, procurement, construction and installation of a cable drum, mooring system and topsides for the FPSO, which will process, store and export production from the platform. The FPSO, leased by Exmar to CPTL for a period of 12 years, will have a crude oil storage capacity of 900,000 barrels. The FPSO equipment is scheduled for delivery in mid-2002.


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