Stolt Offshore S.A. (NASDAQ NM: SOSA; Oslo Stock Exchange: STO), today announced that it had been awarded a contract valued at approximately $280 million by Total E&P Congo for the Moho-Bilondo deepwater field development offshore Congo.
The contract is for the engineering, procurement, supply and installation of umbilicals and flowlines. The scope of work will include installation and pre-commissioning of approximately 88 kilometres of flowlines and oil and gas export pipelines, as well as including 18 kilometres of flexible flowlines, and a well control umbilical, in water depths of up to 800 metres.
The procurement and engineering phase has already started. NKT Flexibles I/S, a Stolt Offshore joint venture company, will manufacture and supply the dynamic flexible risers and the static flexible lines.
Offshore installation is scheduled to commence in 2007 through to early 2008 and the principal vessels involved in installation will be the Seaway Polaris and Seaway Falcon.
Bruno Chabas, Chief Operating Officer said “We are delighted to be awarded this contract by Total E&P Congo, which demonstrates our ability to deliver the technological solutions that our customers require for deepwater subsea construction. A key success factor to this contract being awarded to Stolt Offshore was our ability to use our joint venture company, NKT Flexibles I/S, for the provision of flexible flowlines. This substantial contract award further expands our strong presence in the West African market and is a significant addition to our backlog for 2006 and 2007.”