IHC Caland Wins $250 Million Contract to Build in Deepwater

Dutch shipbuilding and engineering group IHC Caland NV said on Wednesday it received two new contracts worth a total of $250-300 million.

IHC said it had received a letter of intent from the U.S. exploration and production arm of TotalFinaElf to build a deepwater platform in the Gulf of Mexico. The project, worth $150-$200 million, is expected to be completed near mid-2003, the company said.

IHC's unit Giessen-de Noord received a memorandum of understanding to build a maintenance ship for offshore oil fields from Scotland's Wellships Group. That contract was worth about $100 million, IHC said.