Stolt Offshore Awarded Contract

Wednesday, May 29, 2002
Stolt Offshore S.A. announced the award of the $660 million Sanha Condensate contract from CABGOC, a wholly owned subsidiary of Chevron Texaco, to a consortium of Stolt Offshore and Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME), of which the Stolt Offshore share is $240 million, $15 million of which is expected to be in 2002. The contract is for an EPIC project for the engineering, fabrication and installation of five offshore platforms with two linking bridges, the modification of three existing platforms and the installation of 100 kms of subsea pipelines ranging in diameter from four to thirty inches, in an average water depth of 100 meters. A substantial part of the platform fabrication work will be undertaken in the Stolt Offshore managed Sonamet yard at Lobito in Angola. These offshore facilities will be installed in the Sanha and Bomboco fields in the Cabinda area offshore Angola. The operator of these fields is CABGOC, on behalf of an oil company group of Sonangol, Chevron Texaco, Agip and TotalFinaElf. The engineering subsidiaries of Stolt Offshore, Paragon Engineering Services in Houston and Paragon Litwin in Paris, expect to undertake some 140,000 manhours of engineering for the design of process modules, platforms and pipelines. Bernard Vossier, CEO said, "This award reflects our ability to undertake the full scope of engineering, procurement, fabrication and installation on a project of this nature in West Africa. It follows three earlier projects that we have undertaken for CABGOC in recent years all of which have been in consortium with DSME. Following this award, our backlog now stands at $1.7 billion of which $860 million is for the remainder of this year. This compares with a backlog of $1.2 billion at this time last year of which $686 million was for the balance of 2001."

People & Company News

Hammond New International Sales Manager, Fairline Yachts

British luxury motor yacht manufacturer, Fairline Yachts, announces Robert Hammond as its new International Sales Manager. Robert will be responsible for Fairline's

STX to Slash Jobs, Sell Yard

To stay above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Offshore

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

STX to Slash Jobs, Sell Yard

To stay above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Onshore Spending on the Cusp of Recovery?

DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0890 sec (11 req/sec)