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BECHTEL AND INTERPROVINCIAL TO JOINTLY PURSUE PIPELINE WORK

 SAN FRANCISCO, June 14 /PRNewswire/ -- Bechtel and Interprovincial Pipe Line announced today they have entered into a collaborative agreement to develop, construct, own and operate a series of new petroleum pipeline projects. Under the accord, Bechtel Corp., a major developer and constructor of pipelines, signed a Memorandum of Understanding with Interprovincial, operator of the world's longest petroleum pipeline system, to jointly pursue a number of pipeline and related opportunities in selected locations around the world.
 According to terms of the agreement, Bechtel's role will include evaluating and engineering petroleum pipeline systems, providing financing services and implementing selected projects by providing procurement, construction and start-up services. Interprovincial will participate in equity, financing, ownership and operation of the new systems.
 The Bechtel and Interprovincial organizations are hardly strangers, having worked together on various assignments for more than 40 years. In 1950, the San Francisco-based construction company participated in the design and construction of the original Interprovincial pipeline system. During the ensuring years, Bechtel has had additional major assignments involving the line's expansion. The facility is now the world's longest petroleum pipeline system, extending across North America.
 "This agreement has grown out of a long-standing relationship between our two companies," said Mike Thiele, Bechtel senior vice president and manager of the company's Pipeline and Industrial business line. "We are delighted that we will now be working with this world renowned pipeline company on a closer and even more cooperative basis."
 Bechtel, founded in 1898, is one of the world's leading engineering, construction, management and environmental companies. Over the years, the company has designed, managed and constructed more than 50,000 miles (80,000 kilometers) of petroleum and related pipeline systems worth more than US$20 billion.
 Patrick Daniel, Interprovincial's vice president, Planning, stated, "We are pleased to be entering into this agreement with a world-class company such as Bechtel. This alliance should make both companies more competitive in seeking new opportunities."
 Interprovincial, a widely held public corporation based in Edmonton, Alberta, was founded in 1949. Its pipeline system, consisting of IPL and IPL (NW) systems in Canada and the Lakehead system in the United States, delivers more than 1.4 million barrels of oil, natural gas liquids and other liquid hydrocarbons daily to a variety of markets in Canada and the United States.
 -0- 6/14/93
 /CONTACT: Larry Miller of Bechtel, 415-768-6144/


CO: Bechtel Corp.; Interprovincial Pipe Line ST: California, Alberta IN: OIL SU:

SG-GT -- SF010 -- 1749 06/14/93 15:29 EDT
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Publication:PR Newswire
Date:Jun 14, 1993
Words:411
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