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Stolt Offshore

Stolt-Nielsen to Release 2Q Results

Stolt-Nielsen S.A. will release its second quarter results on Thursday, July 10th, 2003. A conference call will be held to discuss the earnings and review of business operations on Thursday, July 10th, 2003. The date for release of second quarter 2003 results has been delayed to permit Stolt Offshore S.A., a subsidiary of Stolt-Nielsen S.A., to discuss the major items of the Stolt Offshore S.A. Blueprint for financial recovery during Stolt Offshore S.A. investor conference call.


Stolt Offshore Wins $120M in Contracts

Stolt Offshore S.A. received contract awards and Letters of Intent totaling approximately $120 million from various customers operating in the North Sea. In the UK sector of the North Sea, BP has awarded Stolt Offshore two contracts totalling $12.4 million for construction and installation of the gas import/export system for Clair Phase 1 and the tie-in of the Clair oil export and gas import/export pipeline systems. BP has also awarded Stolt Offshore a contract, valued at approximately $19


Stolt Offshore Appoints CFO

Stuart Jackson has been appointed as Chief Financial Officer for Stolt Offshore. He will start with the company on April 22, 2003. Stuart Jackson is a graduate Chartered Management Accountant with 19 years energy sector experience including 11 years in the oil and gas industry. He joined Marathon Oil in London in 1983 as a financial analyst before moving to LASMO in 1985 where he held various financial management positions in London, the Far East and North


Stolt Offshore Acquires Paragon Engineering Services

Stolt Offshore S.A. signed a letter of intent to acquire a majority ownership of Paragon Engineering Services Inc. (PES) of Houston from Kenneth Arnold, the current controlling shareholder. A new holding company, Paragon Engineering Services International (PESI), will be established which will operate from the existing PES office in Houston and through a new company, Paragon Europe (PE), in Paris. This represents an investment by Stolt Offshore of approximately $13 million


Stolt Offshore Announces Results

Stolt Offshore S.A. announced unaudited results for the second quarter and six months ended on May 31, 2004. Tom Ehret, Chief Executive Officer, Stolt Offshore S.A., said: "Stolt Offshore's turnaround is now well advanced. The Group now has the financial resources to compete effectively in its chosen markets thanks to a much improved balance between equity and debt. Furthermore, 45 project wins, with a total value of $1


Stolt Offshore to Release Q4 and FY03 Results

Stolt Offshore S.A. will release its fourth quarter and full year 2003 results on Wednesday February 18, 2004. A conference call will be held to discuss the earnings and review business operations on Wednesday, February 18, 2004 at 2.00pm GMT.


Stolt-Nielsen Makes Management Changes

Stolt-Nielsen has announced organizational and management changes at the company's Transportation Group. Jacob Stolt-Nielsen, Chairman of Stolt-Nielsen S.A. (SNSA), said: "The actions we are announcing today are aimed at putting the focus on the future of the business and reflect our plans for ensuring the long-term success of the Stolt-Nielsen Transportation Group, an outstanding company composed of excellent people."


Maritime Stocks Move Up

The Shipping Index at the Oslo Stock Exchange performed well in the quite summer month of July, rising 2.7 percent, and thus again lifting the maritime sector of shipping, offshore and cruise shares above the levels of year-end 1999. Within the sector, 29 shares rose during the month, while only 12 decreased in market value. Among the offshore stocks, Nortrans Offshore (NOL) were again strong, as in May, after a 10 percent fall in June


Stolt-Nielsen Reports Talks with Lenders Continuing

Stolt-Nielsen S.A. ( said that while the waivers of covenant defaults granted by its primary lenders expired today, the Company and its lenders remain in constructive discussions aimed at establishing longer-term waivers. "We continue to work closely with our primary lenders toward longer-term waivers that will give us the necessary time to allow us to develop a sensible financial restructuring plan," said Niels G. Stolt-Nielsen, Chief Executive Officer of SNSA


Farstad Receives Letter of Intent from Norsk Hydro

Farstad Shipping ASA, in co-operation with Stolt Offshore AS, has received a Letter of Intent from Norsk Hydro for a 5 year charter, plus 3 yearly options, for the newbuilding Far Saga, which was deliverd from Simek AS on 31st of October. The vessel, a large platform supply vessel (PSV) of design UT 745 L, will be a part of Stolf Offshore AS' contract with Norsk Hydro for underwater services. Far Saga will operate in a PSV role for Norsk Hydro until necessary outfitting and mobilization for


Stolt Offshore Awarded $250M Contract

Stolt Offshore has been awarded a new contract by Petrobras for a firm period of six years for deepwater flexible pipelay offshore Brazil. The contract which will commence in January 2007 and is valued at approximately $250 million, will be undertaken by the CS Pertinacia which will be on


ASRY Invests in Future

ASRY CEO WEB.jpg

Bahrain-based Ship Repair Yard Invests $188m in facilities; Expands offshore operations   Bahrain’s Arab Shipbuilding & Repair Yard (ASRY) has come a long way since starting operations towards the end of 1977, as the Arabian Gulf’s first VLCC repair yard


Flexlife Makes Double Management Appointment

Jon Hawes (left) and Simon Hounsome

Flexlife, the subsea flexible pipes specialist, has strengthened its management organization with two senior appointments. Simon Hounsome joins Flexlife’s Aberdeen headquarters as integrity and projects director, responsible for the policy


Founder Retires From Stolt-Nielsen BoD

Jacob Stolt-Nielsen

Stolt-Nielsen Limited has announced that Jacob Stolt-Nielsen, the visionary entrepreneur who founded the company in 1959, will retire from the SNL Board of Directors effective December 15, 2014, thus formally concluding his career at the company, 55 years to the date of its founding


Stolt Offshore Announces Sale of Certain Assets to Ca

Stolt Offshore S.A. confirmed that the US Department of Justice has cleared the sale of the shallow water assets that form part of its North America and Mexico (NAMEX) business to Cal Dive. Stolt Offshore is now undertaking pre-close formalities and completion accounts with Cal Dive after which


A&P wins Contracts from Norway

A&P Tyne is celebrating this week after clinching its third contract from Norway in just a matter of weeks. The first contract, which is currently underway in the Hebburn shipyard, involves the refurbishment of the 10,385 grt pipe-laying vessel Seaway Falcon for Stolt Offshore of Stavanger


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


Stolt Offshore Completes Platform Salvage

Stolt Offshore reported it has successfully completed the Eugene Island 275A platform salvage project for Total E&P USA, INC., in what is described as the first platform salvage using only mechanical cutting devices. The platform was located on OCS-G-0988


Stolt-Nielsen Reports 2Q Results

Stolt-Nielsen S.A. reported results for the second quarter ended May 31, 2004. Net income for the latest quarter was $3.9 million on operating revenue of $448.4 million, compared to a net loss of $50.4 million, or $0.92 per share, on operating revenue of $760


Stolt Offshore Wins N.Sea Contracts

Stolt Offshore S.A. received Letters of Intent, valued at approximately $26 million for two contracts from Statoil ASA on its Norne Satellites Project in the Norwegian Sector of the North Sea. The Letters of Intent cover the installation of umbilicals between the Norne FPSO and the new


Stolt Offshore Wins N.Sea Contracts

Stolt Offshore S.A. received Letters of Intent, valued at approximately $26 million for two contracts from Statoil ASA on its Norne Satellites Project in the Norwegian Sector of the North Sea. The Letters of Intent cover the installation of umbilicals between the Norne FPSO and the new


Stolt Offshore Wins $150M Contract

Stolt Offshore S.A. signed an interim agreement for the second phase of the Amenam project in Nigeria. The contract, once finalised, is valued at approximately $150 million. It calls for the engineering, procurement, fabrication, installation and commissioning of a 640 tonne water injection


Stolt Offshore Announces $80M Contract

Stolt Offshore S.A. announced today the award of a contract, valued at approximately $80 million, from BG International Limited for the installation of about 90km of 24-in. diameter gas transportation pipeline and an associated 12-in. diameter infield flowline and well control umbilical


Stolt Offshore Announces Settlement of Patent Dispute

Stolt Offshore S.A. announced that its long running UK litigation with a competitor regarding a European patent covering technology related to the laying of flexible pipes, has been settled out of court. The settlement involves a cash payment by Stolt Offshore in respect of past patent


Stolt Offshore Settles Hubline Claim Out of Court

Stolt Offshore S.A. announced that following suspension of the arbitration proceedings that it had previously initiated, an out of court settlement of all outstanding claims relating to the Duke Energy/AGT Hubline project in the USA had been reached






 
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