Alba Field, Equatorial Guinea
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Torch Offshore has signed a contract with Marathon E.G. Production Limited to perform the installation of five pipelines and an umbilical for the export facility of the Marathon gas plant extension in Malabo, Bioko Island, Equatorial Guinea. The contract is valued at over $12.0 million and is scheduled to commence immediately with an approximate 60-day operation on site with completion scheduled for October 2004. The Company will utilize a marine spread made up of the Midnight Brave to perform the pipelay and umbilical installation and the Midnight Carrier as a support vessel.
Lyle G. Stockstill, Torch Offshore, Inc. Chairman and Chief Executive Officer, commented, "The project award from Marathon is a match to our strategy to develop our pipelay business internationally. We have identified other potential projects in West Africa, and will continue to bid on a selected manner."