Stolt-Halliburton JV awarded pipeline repair workNews // October 19, 2001
The first contract is for pipeline repairs on the Aasgard field for Statoil and is valued at $100 million. Ships owned by both Stolt Offshore and Halliburton Subsea will be used on this project which commences in mid-October and is expected to be completed in April 2002.
The second contract is for pipeline repairs on the Tune field pipeline for Norsk Hydro and is valued at $6 million. This contract will use the pipeline repair system owned by the Statpipe Licence and the Oseberg Transporation System and administered by Statoil. The repair programme will be undertaken in parallel with the Aasgard field repair work.
Bernard Vossier, Chief Executive Officer, said: "These complex deepwater contracts make good use of the combined construction fleets that both Stolt Offshore and Halliburton operate in the North Sea. Our joint venture has a proven track record of providing high quality construction, repair and contingency services to Statoil, Norsk Hydro and Esso."