Bouygues Offshore awarded US$75 million contract.MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--June 25, 1997-- -- New Contract Strengthens Bouygues Offshore's Position in FPSO FPSO Floating Production Storage and Off-loading (shipping & oil industry) FPSO Foster Parent Society of Ontario FPSO Fleet Publication Supply Office Market -- Bouygues Offshore (NYSE NYSE See: New York Stock Exchange :BWG/PARIS:BOS.PA) announced today that their joint venture with Fluor Daniel B.V. has signed a turnkey contract with Bluewater for the supply of the FPSO(a) "Bleo Holm" topsides. Bouygues Offshore's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , UiE Scotland Limited, will carry out their US$75 million portion of the contract which calls for engineering, procurement, construction, installation and commissioning of the FPSO "Bleo Holm" topsides. The Bleo Holm's hull is scheduled to arrive at Clydebank, the UiE Scotland construction yard, by the end of August 1997. Oil production is scheduled to begin in October 1998 at the ROSS oil field operated by Talisman Energy U.K., Ltd. Commenting on the new contract, Herve Le Bouc, chief executive officer of Bouygues Offshore, stated, "This contract further demonstrates Bouygues Offshore's expertise in the technology of Floating Production Units and significantly advances our presence in this market. Combined with our other contract awards this year, the backlog for this activity currently amounts to FF 630 million (US$108.3 million(b))." Bouygues Offshore S.A. is a leading international contractor serving the oil and gas industry, specializing in providing integrated solutions for the design, construction, installation and management of offshore and onshore oil and gas production-related turnkey projects. The company also provides maintenance services to the oil production industry, engages in high-end maritime and river-related civil works projects and designs and constructs liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG LNG (liquefied natural gas): see under natural gas. ) import terminals as well as storage tanks. NOTE: (a) Floating Production Storage and Offloading A Floating Production, Storage and Offloading vessel (FPSO; also called a "unit" and a "system") is a type of floating tank system used by the offshore oil and gas industry and designed to take all of the oil or gas produced from a nearby platform (s), process it, and store (b) Based on an exchange rate of US$1 = FF5.82 CONTACT: Bouygues Offshore S.A. Mireille Arvier Communication and Investor Relations Investor relations The process by which the corporation communicates with its investors. Manager 33.1.30.60.75.06 or Morgen-Walke Associates Inc., New York Lynn Morgen/Betsy Brod Press: Terry Rooney/Brian Maddox 212/850-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion