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    NOL wins FPSO contract

    News // July 28, 2000
    The Nortrans Offshore Limited (NOL) group has been awarded a contract with a value of over US$300 million (NOK2.6 billion) with Ranger Oil Cote d'Ivoire SARL for the provision of an FPSO for use in the Espoir Field Development, offshore Cote d'Ivoire, West Africa.

    The award of this contract confirms the Letter of Intent issued to Nortrans Offshore earlier.

    The contract is for the lease and operation of an FPSO for an initial term of ten years and there are options to extend the contract for up to a further ten years. There are also purchase options for Ranger Oil to acquire the FPSO during the initial termof the contract.

    The FPSO is targeted to arrive in the field late in the fourth quarter of 2001. The FPSO will be moored in about 120 meters of water using an internal turret, which has the capacity for up to ten risers.

    The FPSO will have crude oil production capacity of 40,000 bopd, water injection capacity of 60,000 bwpd and gas compression capacity of 60 MMscfd for gas lift and gas export.

    The oil will be exported by shuttle tanker and the gas will be exported to shore where it will be used to generate electricity.

    Nortrans Offshore will be converting a Suezmax tanker for use as the FPSO and the internal turret, fluid swivels and other new items have been designed by Nortrans Offshore's in house engineering team.

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