Stolt Wins $120 Million in North Sea Contracts

Forties Pipeline, North Sea
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Forties Pipeline Detail
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Stolt Offshore has received contract awards and Letters of Intent totaling approximately $120 million from various customers operating in the North Sea.

In the UK sector of the North Sea, BP has awarded Stolt Offshore 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 has also awarded Stolt Offshore a contract, valued at approximately $19.3 million, for the design and construction of an 18-inch hot-tap into the 36-inch BP Forties Pipeline System.

Stolt Offshore has been issued with a Letter of Intent 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.

Oeyvind Mikaelsen, Vice President, Northern Europe and Canada Region of Stolt Offshore, said, "These six contract awards and three Letters of Intent confirm our leading position in the North Sea where we continue our successful delivery of technically demanding, subsea construction projects. Despite its maturity, the North Sea remains a resilient and valuable market for Stolt Offshore."

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