Stolt Offshore Wins Contract Extension in Brazil

Stolt Offshore has been awarded a two year extension to the contract for the Seaway Harrier by Petrobras in Brazil, with an option for an additional two years. The two year extension commences in early September 2005.

This contract, valued at approximately $40 million for the first two years, is for the provision of diving services to water depths of 300 meters for new construction tasks and inspection, maintenance and repair work, together with ROV services to 3,000 meters.

Philippe Lamoure, Vice President South America Region, said "We are very pleased to have been awarded this extension to our long term contract for the Seaway Harrier. This award follows eight uninterrupted years of similar work by this ship for Petrobras during which we have achieved an excellent safety and operational track record. It also indicates the high degree of customer satisfaction with both the Seaway Harrier crew and our support organization in Macae".