Stolt Offshore awarded $280 million contract

Stolt Offshore announced today that it has been awarded $280 million by the Ormen Lange license group for the installation of part of the Ormen Lange pipeline. Upon completion, this pipeline will be the longest in the world.

Stolt Offshore will be responsible for the installation of 540 kilometres of 44-inch diameter pipeline which will transport gas produced from the Ormen Lange field via the North Sea Sleipner gas export hub to Easington in the UK.

Included as part of this contract is an option in 2006 for the installation of 362 kilometres of 42-inch diameter pipeline originating outside Nyhamna, running through to the Sleipner Platform via the Norwegian Trench.

‘We are delighted that the Ormen Lange license group have awarded us this very significant pipelay project at a time when we are going through a period of restructuring,’ said Tom Ehret, Chief Executive Officer of Stolt Offshore S.A.

‘We see this award as a validation of Stolt Offshore’s expertise in managing technically demanding long-term projects at a time and as a key milestone in Stolt Offshore’s turnaround,’ added Ehret.

On the web