Offshore staff
(Brazil) - Petrobras has awarded Stolt Offshore a number of contracts totaling approximately $300 million for various Brazil projects.
The first new award, valued at $145 million, is an EPIC contract for the tie-in of oil export pipelines from the Roncador, Marlim Sul and Marlin Leste fields to the PRA1 booster platform and for other associated tie-in work at two offloading buoys and a floating storage and offloading tanker. The work will be performed byThe Discovery in the period between the 4Q 2006 and the 3Q 2007.
Stolt Offshore's North America regional office in Houston will manage the engineering and project management for this project, following the refocusing of this business unit to the deepwater SURF market.
The second new award is an extension to the existing Seaway Condor contract, valued at $140 million for four additional years of work from September 2006. This contract to install flexible flowlines and risers in water depths of up to 2,000 m was previously extended in 2001.
Two additional awards are for two-year extensions to both of the ROV contracts on the Toisa Conqueror and the Normand Borg, together valued at approximately $16 million.
Stolt Offshore CEO Tom Ehret said, "We announced last year that part of our strategy was to grow our business in South America. These new contract awards are evidence of the successful execution of this strategy over recent months."
Ehret closed by saying, "the Roncador and Marlim tie-ins award is of particular importance as it is our first EPIC contract in Brazil. It is also early evidence of the successful refocusing of our Houston-based business unit in undertaking project management and engineering work for other parts of the world."
2/13/06
