Stolt Offshore Awarded $50M Contract in Norway

Stolt Offshore S.A. announced that it had been awarded a contract valued at approximately $50 million by Hydro Oil and Energy for the installation of an export pipeline from the Njord FPU to the Asgard transportation pipeline. The contract is for the installation of 40 kilometers of twelve inch diameter pipe together with the design, fabrication and installation of associated structures, trenching, rock dumping and the tie-in of the pipeline. Engineering work for this project has now started. The installation work will take place in 2006 and 2007. Øeyvind Mikaelsen, Vice President for the Northern Europe and Canada region, said "This award, following the Langeled and Ormen Lange pipeline contracts, demonstrates that we are successfully focusing on meeting our customers' requirements. This contract contributes to our growing backlog into 2006 and 2007 and re-affirms Stolt Offshore's position as a leading engineering and project management company in the NEC Region".