Stolt Offshore S.A. has been awarded a $60 million EPIC contract from Norsk Hydro
for the Vigdis Extension. The Vigdis Extension project includes two new templates and two new satellite structures that
will be tied back to the existing Vigdis subsea infrastructure. Stolt Offshore will provide engineering, procurement and installation of 14 miles of 6-in. and 12-in. water injection and production flowlines and umbilicals. Engineering work
has commenced and offshore work is due to be carried out in the third quarter of 2003. The Vides Extension field is located in water depths ranging from 722 ft. to 918 ft. in block 34/7 of the Norwegian Section of the North Sea some 105 miles northwest of Mongstad.