BHP Billiton Awards Technip-Coflexip Offshore Contract

CSO Aker Engineering, Inc., a U.S. entity of the Technip-Coflexip Group has been awarded a Front-End Engineering Design (FEED) contract by BHP Billiton for its Angostura Development Project offshore Trinidad. CSO Aker Engineering will execute the engineering contract together with sister company Technip Upstream Houston. Completion of FEED is scheduled for Q2 2002. The final configuration of the Development is yet to be agreed, the project is pursuing an aggressive schedule to first oil in the first half of 2004.