Bredero Shaw Wins Tyrihans Contract from Statoil

Statoil has signed a letter of intent with Bredero Shaw Norge to insulate the production pipeline for the Tyrihans project in the Norwegian Sea. The agreement has a value of around NOK 145 million.

This job covers insulation coating of a production pipeline with a diameter of 16 and 18 inches and a total length of 43 kilometers.

The steel line pipes will be delivered to Bredero Shaw's facilities in Orkanger, near Trondheim, and the insulation work will start in the autumn of 2006 and finish in April 2007.

The pipes will be installed on the Tyrihans field during the summer of 2007.

Tyrihans is scheduled to come on stream in 2009 and it will be one of the largest development projects on the Norwegian continental shelf in the next few years.

Total development costs are estimated at NOK 14.5 billion (nominal).

Recoverable reserves are put at around 182 million barrels of oil/condensate, and 34.8 billion cubic meters of rich gas.

Statoil has a 46.8 percent interest in the field, while its partners are Total with 26.51 percent, Hydro with 12 percent, Eni with 7.9 percent and ExxonMobil with 6.75 percent.