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    Stolt heads for $300m contracts

    News // June 1, 2001
    The Scotsman newspaper reports that Stolt Offshore is poised to win up to $300 million worth of subsea construction work on two major new gas field developments.

    One of the contracts is for a development in the Mediterranean and the other is offshore Ireland.

    The Scotsman says the award of contracts is imminent and that Stolt Offshore's Aberdeen arm, which accounts for 1,350 of the company's 10,000 employees, will play a key co-ordinating role on both projects.

    The Mediterranean contract, worth $150 million, is scheduled to be awarded by the Burullus consortium led by UK company BG Exploration, which is opening up a pair of deepwater gas fields offshore Egypt known as the West Delta project.

    The other contract will comprise two separate contracts on the west of Ireland Corrib field development operated by Enterprise Oil, says the newspaper.

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