Nexans Wins 7.4 Million Euros Contract to Supply Offshore Cables for the FPSO Vessel of Nigeria's Akpo Deepwater Field
Share:
OTC - Houston (Texas, USA), May 1, 2006 - Nexans, the worldwide leader in the cable industry, has signed a Letter of Intent (LOI) with Hyundai Heavy Industries (HHI) to supply offshore cables worth around 7,4 million euros (9M USD) for the Floating Production Storage and Offloading (FPSO) vessel of Nigeria's deepwater Akpo field.
1,185 km of power and instrumentation cables
Nexans will supply HHI with a total of 1,185km of offshore cables (power and instrumentation) for the FPSO. The cables for this project will be produced in accordance with IEC (International Electrotechnical Commission) standard. They will meet stringent requirements for fire and flame resistance - providing circuit integrity for a minimum of three hours and able to withstand a flame test at 1000°C. They will also be halogen free, low smoke and resistant to aliphatic hydrocarbons.
Nexans has previous experience of supplying offshore cables for major projects, such as Sakhalin II for Samsung Heavy Industries in 2003 (Russia) and the Greater Plutonio Project for HHI in 2004 (Angola) among other projects. "Nexans' experience in this sector combined with outstanding technology were the vital factors that enabled us to win the Akpo project." said Michel Lemaire, Executive Vice President North America & Asia Area.
The offshore cables for the Akpo project will be manufactured at Nexans' Jincheon plant in Korea with delivery scheduled from August 2006.
The FPSO vessel of Nigeria's Akpo deepwater field
Akpo, a gas and condensate (light crude) field operated by Total Upstream Nigeria Limited, is due to start flowing in late 2008 and should quickly build up to its plateau output of 225,000 barrels/day of oil equivalent.
The field, lying in water depths from 1,100 to 1,700 metres, will produce to an FPSO vessel with a storage capacity of two million barrels. The field, located around 200 km offshore from Port Harcourt, is located on the Oil Mining License (OML) 130.
Technip's engineering center in Paris (France) is responsible for the overall project management as well as the engineering phase. The FPSO's hull and topside construction and integration will be carried out by HHI, who will engineer and fabricate the various components and structures in Nigeria.
About Nexans
Nexans is the worldwide leader in the cable industry. The Group brings an extensive range of advanced copper and optical fiber cable solutions to the infrastructure, industry and building markets. Nexans cables and cabling systems can be found in every area of people's lives, from telecommunications and energy networks, to aerospace, automotive, railways, building, petrochemical, medical applications, etc. With an industrial presence in 29 countries and commercial activities worldwide, Nexans employs 20,000 people arid had sales in 2005 of 5,4 billion euros. Nexans is listed on the Paris stock exchange. More information on www.nexans.com
About Akpo field in Nigeria
The Akpo field is located on the Oil Mining License (OML) 130 offshore Nigeria, in water depths ranging from 1,200 to 1,700 meters. Its overall operator is Total Upstream Nigeria Limited. The Akpo's FPSO will be anchored in 1,325m of water and will produce 225,000 barrels of oil per day. First oil production in the Akpo field is scheduled at the end of 2008.
Contacts:
Press
Pascale Strubel Tel. : +33 (0)1 56 69 85 28 Pascale.strubel(a>nexans.com
Celine Revillon Tel. : +33 (0)1 56 69 84 12 Celine.revillon@nexans.com
Investor relations
Michel Gedeon Tel. : +33 (0)1 56 69 85 31 Michel.gedeon(5>nexans.com
