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INTERPROVINCIAL AND BECHTEL ANNOUNCE AGREEMENT TO DEVELOP NEW PIPELINE PROJECTS

 EDMONTON, Alberta, June 15 /PRNewswire/ -- Interprovincial Pipe Line System Inc. of Edmonton, and Bechtel Corp. of San Francisco, announced today they have entered into a collaborative agreement. The accord will result in the two corporations jointly developing new opportunities to construct, own and operate petroleum pipelines in selected locations around the world.
 According to the terms of the agreement, Bechtel's role will include evaluating and engineering petroleum pipeline systems. Bechtel will participate in financing projects as well as provide procurement, construction and start-up services. Interprovincial will participate through financing, ownership and operation of new facilities.
 Interprovincial Pipe Line (IPL) owns and operates Canada's major trunk petroleum pipeline and is the majority owner and operator of Lakehead Pipe Line Partners L.P. in the United States. Together, IPL and Lakehead comprise the world's longest liquid hydrocarbon pipeline system.
 Bechtel Corp. is one of the world's leading engineering, construction, management and environmental companies. Since it was founded in 1898, the corporation has designed, managed and constructed more than 80,000 kilometers (50,000 miles) of petroleum and related pipeline systems worth more than US$20 billion.
 Bechtel and Interprovincial have worked together over the past 40 years. In 1950, Bechtel participated in the design and construction of Interprovincial's original pipeline system and has subsequently had major assignments involving various IPL expansion projects.
 "This agreement has grown out of a long-standing relationship between our two companies," said Mike Thiele, Bechtel's senior vice president. "We are delighted we will now be working with this world renowned pipeline company on a closer and even more cooperative basis."
 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 our companies more competitive in seeking new opportunities."
 Interprovincial is a widely held public corporation based in Edmonton, delivering more than 1.4 million barrels of liquid hydrocarbons daily to a variety of markets in Canada and the United States.
 -0- 6/15/93
 /CONTACT: Pat Daniel, VP-Planning, Interprovincial Pipe Line, 403-420-5350/
 (IPL. IPPIF)


CO: Interprovincial Pipe Line Inc. ST: Alberta IN: OIL SU: JVN

EH-JL -- LA027 -- 2226 06/15/93 14:42 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
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