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Stolt Offshore awarded NOK 320 million contract

April 27, 2005, 15:00 CEST

Stolt Offshore was awarded a contract worth approximately NOK 320 million today by Hydro, for pipelines for the Njord gas export project.

The contracts is for design, fabrication and installation of the pipeline for Njord gas export. Export of gas from the Njord field in the Norwegian Sea is scheduled to begin in October 2007.

The approximately 40 kilometre long pipeline which is to be laid will connect the Njord A platform to the gas pipeline Åsgård Transport, which connects the Åsgård field in the Norwegian Sea with the Kårstø terminal.

The Njord field lies approximately 130 km north west of Kristiansund, in 330 metres of water.

The Njord licensees are:

Norsk Hydro (operator) 20.0%
ExxonMobil 20.0%
Gaz de France 20.0%
E. ON Ruhrgas 15.0%
Paladin Resources 15.0%
Petoro 7.5%
Endeavour Energy 2.5%