Norsk Hydro Awards Pipeline Contract to Stolt

Stolt Offshore was awarded a contract worth approximately NOK 320 million by Hydro, for pipelines for the Njord gas export project.

The contracts is for design, fabrication and installation of the pipeline for Njord gas export. Export of gas from the Njord field in the Norwegian Sea is scheduled to begin in October 2007.

The approximately 40 kilometer long pipeline which is to be laid will connect the Njord A platform to the gas pipeline Åsgård Transport, which connects the Åsgård field in the Norwegian Sea with the Kårstø terminal.

The Njord field lies approximately 130 km north west of Kristiansund, in 330 meters of water.

The Njord licensees are Norsk Hydro as operator with 20%; ExxonMobil with 20%; Gaz de France with 20%; E.ON Ruhrgas with 15%; Paladin Resources with 15%; Petoro with 7.5%; and Endeavour Energy with 2.5%.