Belgian company Exmar Offshore Co. has awarded Spanish company IZAR Construcciones Navales SA a contract to build a 900,000 bbl floating production, storage, and offloading vessel to be used at Aquitaine field in the Mediterranean Sea off Libya. The vessel will be delivered in January 2003. Financial terms were not disclosed. IZAR is the company created by the merger of Bazan and Astilleros Españoles.
Texaco North Sea UK Co. has exercised an option to extend its contract for 6 months for Northern Offshore Ltd.'s Northern Producer production platform on Galley field. The extension will begin July 6, 2002. The day rate for the extension is $105,000 plus a $1.25-$1.85/bbl tariff. Texaco has two more 6-month extensions built into the contract plus 4 1-year periods.
Kuwait Oil Co. has awarded Snamprogetti, the engineering and main contracting arm of Eni SPA, a $55 million contract for the construction of a network for lift gas distribution in Sabriah and Roudhatain oil fields in northern Kuwait. The lump-sum, turnkey contract will be completed in 18 months.