Bouygues Offshore Announced the Signing of Two Turnkey Contracts.Business Editors MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--July 23, 2001 Bouygues Offshore (NYSE NYSE See: New York Stock Exchange :BWG) (PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. :BOS.) announced the signing of two turnkey contracts with Compagnie des Petroles Total Libye (CPTL CPTL Compagnie des Pétroles Total Libye (Total SA Group Affiliates) CPTL Center for Trade Policy and Law (Carleton University; Ottawa, Canada) ) as part of the development of field B in Block 137, located about 100 kilometers offshore Libya along the Tunisian border. -- The first turnkey contract, for a total of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 54 million (including USD 22 million for Bouygues Offshore), was awarded to a consortium comprising Bouygues Offshore (leader), ROSBOS (a 50%-owned subsidiary of Bouygues Offshore) and Stolt Offshore. It covers engineering, procurement, construction and installation (EPCI EPCI Etablissement Public de Coopération Intercommunale (France) EPCI Enhanced Proliferation Control Initiative EPCI Engineering, Procurement, Construction, and Installation EPCI Electronic Payment Certification Institute ) of a platform consisting of a 1,700 metric tons, three-story deck and a 6,200 metric tons jacket both fabricated by ROSBOS in the Ravenna Yard in Italy. The production capacity of the platform, installed in above 90 meters of water, will be 35,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. of oil. The platform is scheduled for delivery in late 2002. -- The second turnkey contract, for a total of USD 32 million (USD 17 million for Bouygues Offshore), was awarded to Doris Engineering (a 51%-owned subsidiary of Bouygues Offshore) in its capacity as subcontractor for Exmar. It covers engineering, procurement, construction and installation (EPCI) of a cable drum, mooring system and topsides for the FPSO FPSO Floating Production Storage and Off-loading (shipping & oil industry) FPSO Foster Parent Society of Ontario FPSO Fleet Publication Supply Office , which will process, store and export production from the platform. The FPSO, leased by Exmar to CPTL for a period of 12 years, will have a crude oil storage capacity of 900,000 barrels. The FPSO equipment is scheduled for delivery in mid-2002. Commenting on this contract, Herve Le Bouc, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bouygues Offshore stated: "These two contracts are the first for Bouygues Offshore in Libya and confirm our commitment to developing our operations in North Africa and the Middle East. Moreover, Doris Engineering's contract introduces the company as a new supplier of high value added FPSO equipment." 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. 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. Further information on the company can be found on line at www.bouygues-offshore.com. |
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