Stolt Offshore Awarded Britannia Satellites Development

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13th Jun 2005

Stolt Offshore has been awarded a contract by ConocoPhillips (UK) Limited for the Britannia Satellites Phase 1 Development Project in the Central North Sea. The project valued at approximately $120 million relates to the previous announcement of a Letter of Intent made on 31 December 2004.

Stolt Offshore's work programme will include installation of approximately 90 kms of 12" and 6" diameter pipelines, together with 3 service lines and control umbilicals, as well as the associated subsea construction work. The procurement and engineering phase will commence in 2005, with offshore installation in 2006.

Øyvind Mikaelsen, Vice President Northern Europe and Canada Region, said "We are delighted with the ConocoPhillips award for the Britannia Satellites Development Project. This is a significant addition to our backlog for 2005 and 2006 in this region, from which we have consistently delivered our strongest performance."

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