AGIP PLANS DEVELOPMENT OF N. SEA FIELD

July 23, 1990

Agip (U.K.) has let the U.K. North Sea's biggest turnkey contract for a production platform in Tiffany field. The 450 million ($810 million) contract went to Press Offshore, Matthew Hall Engineering, and Saipem SpA in a joint venture known as Tiffany Contractors. It covers engineering, procurement, fabrication, transportation, installation, hookup, commissioning, and start-up of the platform in Block 16/17. Agip plans to start production from the 125 million bbl field in 1993. Production

Agip (U.K.) has let the U.K. North Sea's biggest turnkey contract for a production platform in Tiffany field.

The 450 million ($810 million) contract went to Press Offshore, Matthew Hall Engineering, and Saipem SpA in a joint venture known as Tiffany Contractors. It covers engineering, procurement, fabrication, transportation, installation, hookup, commissioning, and start-up of the platform in Block 16/17.

Agip plans to start production from the 125 million bbl field in 1993. Production will plateau at 66,000 b/d.

Toni, another reservoir on the same block, is included in the development plan. It will go on stream at 20,000 b/d using a subsea production center tied back to Tiffany.

Matthew Hall, with Snamprogetti and Tecnomare as subcontractors, will be responsible for design of the process and utilities module and flare boom. Press Offshore will undertake primary topside fabrication.

Saipem will be responsible for design and fabrication of the 16,060 ton jacket, which will be designed by Tecnomare and built by Consorzio Italoffshore in Sicily.

Saipem also will be responsible for design and fabrication of drilling modules. Transportation and installation of the structure will be carried out by Saipem/Micoperi, with hookup and commissioning by Press Offshore.