Stolt Offshore Wins Vidgis Contract

Stolt Offshore has been awarded a $60 million EPIC contract from Norsk Hydro for the Vigdis Extension. The Vigdis Extension project includes two new templates and two new satellite structures that will be tied back to the existing Vigdis subsea infrastructure. Stolt Offshore will provide engineering, procurement and installation of 23 km of 6-inch and 12-inch water injection and production flowlines and umbilicals. Engineering work has commenced and offshore work is due to be carried out in the third quarter of 2003. The Vigdis Extension field is located in water depths ranging from 220m to 280m in block 34/7 of the Norwegian Section of the North Sea some 170km north west of Mongstad.

Niels G. Stolt-Nielsen, Chief Executive Officer said, "This is a significant EPIC award for the Norwegian Sector of the North Sea in which we have a long history of successful construction and maintenance work for Norsk Hydro and other operators."

Stolt Offshore also announced today that following a request from the Oslo Stock Exchange, the value of the contract award reported on October 18 from Esso Exploration and Production Nigeria Limited for the flowlines and risers on the Erha field offshore Nigeria, is in excess of $250 million.