Stolt Offshore Wins $36 Million Project Offshore Vietnam

Stolt Offshore S.A. has been awarded a contract valued at approximately $36 million by Vietnamese state oil company Petro Vietnam Exploration and Production (PVEP) for the Dai Hung Field Extension, offshore Vietnam.

The contract is for the Engineering, Procurement, Construction and Installation work associated with Block 05-1a offshore Vietnam. The field extension, in water depths of 120 metres, comprises 18 km of NKT flexible flowlines and risers, 9km of combined service umbilicals and two mid-depth buoys and ties back five new wells to the existing Dai Hung Floating Production Unit. Offshore installation is scheduled to take place during summer 2006. The vessel carrying out the installation will be the Seaway Hawk.

Jeff Champion, Vice President for the Asia and Middle East Region, said, "This award represents a substantial milestone in our development of this region and confirms our customers' confidence in our ability to deliver SURF(1) projects in this emerging market."