AMENAM, Nigeria: New US$330 million contract for Saibos CML.

Business Editors

MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--Sept. 13, 2000

Saibos CML (a 50/50 subsidiary of Bouygues Offshore (PARIS: BOS.PA - NYSE: BWG) and Saipem), has signed on August 30, 2000 a commitment letter with Elf Petroleum Nigeria Ltd for the supply of one production platform, two tripods, one flare and three associated bridges for the Amenam field, offshore Nigeria.

The US$330 million contract (US$165 million for Bouygues Offshore) calls for engineering, procurement, fabrication, transport, installation, hook-up and pre-commissioning of the oil and gas installations.

The AMP1 platform will treat 130,000 oil barrels and 16,000,000m3 of gas per day. It includes one integrated deck weighing 11,000t, one 8 legs jacket weighing 1,600t and piles weighing a total 2,000t. It will be built in the Middle East. The deck will be installed by means of a "float-over" concept with the assistance of the Saibos CML Castoro Otto barge.

Castoro Otto will also install the other structures (tripods, bridges, and flare weighing a total 1,600t) built in Nigeria.

Delivery is scheduled for mid-2003.

Commenting on this contract, Herve Le Bouc, Chairman and CEO of Bouygues Offshore, stated "This contract illustrates the recovery in the traditional offshore activity and our strong market position in Africa, which accounted for 51% of Bouygues Offshore's net sales in 1999".

From design engineering to start-up and maintenance, Bouygues Offshore provides its customers with turnkey projects in offshore-onshore oil and gas contracting, liquefied gases, maritime and river works and chemicals-refining/energy-industry. Further information on the company can be found on line at www.bouygues-offshore.com

Driven by a strong commitment to the energy industry, an on-the-spot presence and a team of talented professionals, we deliver solutions that are safe, innovative and promote the success of our clients and our Company.