CSO Aker Maritime wins BP multi-SPAR contract

Coflexip Stena Offshore says its CSO Aker Maritime, Inc. has been awarded a contract for delivery of multiple SPAR floating production platforms for BP's deepwater developments in the US Gulf of Mexico. CSO Aker Maritime, Inc. will deliver the SPAR hulls and mooring systems under a program calling for up to five SPARs.

This award is the largest in scope and value for the CSO Group. CSO Aker Maritime, Inc. will be responsible for the engineering, procurement, fabrication, and delivery of the complete hulls and mooring systems. The program contract calls for the first SPAR delivery in 2003. The contract arrangement includes options for delivery of additional hulls and mooring systems for BP operated deepwater prospects in the Gulf of Mexico in water depths ranging from 1,220 to 1,830m (4,000 to 6,000 ft). Option for additional SPARs are to be exercised in line with BP's operational requirements. The "truss" SPAR platform solutions to be provided are based on CSO Aker Maritime Deepwater Division's (CSO Aker Maritime) licensed SPAR technology.

Svein Eggen, Senior Executive Vice President of CSO Aker Maritime Deepwater Division, stated, "We are honored to be selected by BP to provide the SPAR hulls and mooring systems for BP's exciting deepwater program in the Gulf. We are committed to fulfilling BP's expectations to provide program synergies and benefits from capturing the manufacturing efficiencies we can achieve from serial deliveries and product standardization."

Tom Ehret, Chief Operating Officer of the Coflexip Stena Offshore Group, added, "This award demonstrates the confidence that major operators have in this key technology for their deepwater developments. It is also a strong sign that the GOM is a strategic development area for CSO and is providing us with the opportunities we expected. It further confirms the soundness of our recent strategic acquisition. This multi-SPAR delivery contract significantly improves the Group's backlog going into 2001 and beyond."