There were few surprises in the delayed awards bar the choice of Stolt Comex ahead of Coflexip Stena for subsea systems. Seven months have passed since the joint venture between Bouygues and compatriot ETPM was first identified as the unofficial winner of the large and prestigious field development contract. Now it is official. Girassol, lying in 1350 metres of water in prolific Angolan block 17, is estimated to hold more than 1 billion barrels of recoverable oil reserves, 700 million of which are to be recovered in this, the first phase of development.
Bouygues in $1bn Girassol bonanza
FRENCH major Elf Aquitaine has finally received official sanction for its $2.5 billion Girassol deep-water field development project off Angola. The company immediately handed out more than $1 billion of awards to two groups, both led by French contractor Bouygues Offshore.
11 July 1998 0:00 GMT
Updated
11 July 1998 0:00 GMT