Stolt Offshore Awarded $40 Million in New Contracts

Stolt Offshore has been awarded two contracts by Bluewater Industries, together totaling $40 million for installation work on two fields in the Southern North Sea on behalf of ATP Oil & Gas.

The first of these, valued at approximately $23 million, is for the installation of some 86 kilometers of rigid production and service pipelines between the Garrow, Kilmar and Trent platforms as part of the Tors development. The second contract, valued at approximately $17 million, is for the tie-back of the L6 subsea well to the G17 platform in the Dutch sector of the North Sea by the installation of some 40 kilometers of rigid pipeline and well control umbilical. Installation of both projects takes place this year.

Øyvind Mikaelsen, Vice President Northern Europe and Canada Region, said "We are delighted with this award which reflects our long term relationship with ATP and Bluewater through which we are able to package fast track projects of this type. This new type of relationship with our customers is evidence of the constructive working relationship that we have developed with some of the smaller oil companies."