CPC Pipeline: US$ 270 Million Onshore Contract in Russia; Bouygues Offshore's Share: US$ 140 Million.MONTIGNY-LE-BRETONNEUX, France--(BUSINESS WIRE)--April 22,1999-- The Caspian Pipeline Consortium The Caspian Pipeline Consortium is an international consortium of 1,510-kilometer long oil pipeline from Tengiz field to the Novorossiysk-2 Marine Terminal on Russia’s Black Sea coast. It also major export route for the oil from Kashagan and Karachaganak fields. has awarded a US$ 270 million contract for the construction of the CPC's pipeline to a consortium comprised of Bouygues Offshore S.A. (NYSE NYSE See: New York Stock Exchange : BWG BWG Bankwesengesetz (Federal Law on Banking, Austria) BWG Beam Waveguide (antenna) BWG Bundesamt für Wasser und Geologie (Federal Office for Water and Geology, Switzerland) ), Bouygues, Starstro(company of which the two Russian shareholders are Stavropoltrouboprovodstroand Koubanneftegazstroand Spie Capag. The share of Bouygues Offshore represents US$ 140 million. The CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. pipeline is a new line connecting the Tengiz field Tengiz field, in western Kazakhstan, is located in the low-lying wetlands along the northeast shores of the Caspian Sea. Discovered in 1979, Tengiz oil field is one of the largest discoveries in recent history. in Kazakhstan to the Black Sea (near Novorrossyisk). The contract encompasses engineering, site preparation and construction of the 740 km long onshore pipeline (diameter 40" and 42") in Russia. The mechanical completion of the pipeline contract is scheduled for December 2000. Herve Le Bouc, Chief Executive Officer of Bouygues Offshore, commented: "We won this contract for the same reason that we won the US$ 360 million CPC terminal a month ago: our ability to form a strong partnership with our Russian partners. Of the total work, over 70% will be done by Russian companies, and 50% already is awarded to Russian nominated subcontractors: -- Volgogradbeftegasstroi -- Stravropoltruboprovadstroi -- Kubanneftegasstroi -- Vostoknefteprovodstroi -- Leasingstroimash -- Sibtruboprovodstroi -- Tatneftprovodstroi -- ECMOS "These companies have over 50 years of experience in oil and gas pipeline, pumping station, general and specialized construction, having built more than 300,000 km of pipelines in Russia. They have a strong presence on or near the CPC pipeline route, and they know the work environment." Bouygues is a diversified industrial group focused on two main business sectors: Construction, embracing the Group's traditional activities --Building/Civil Works, Roads and Property - and Services, covering Public Utilities, Television and Telecommunications. Present in 80 countries, the Bouygues group has a total workforce of over 100,000. Group total turnover for 1998 amounted to FRF FRF The ISO 4217 currency code for the French Franc. 98.4 billion (Euros 15 bn), of which FRF 35 billion (Euros 5.34 bn) generated abroad. 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 turnkey projects. The Company also provides maintenance services to the oil industry, engages in maritime and river-related civil work 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 and storage tanks. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion