White Rose FPSO Topsides Tender Moves into Final Phase

Apr 12, 2001, 01:00 ET from Husky Energy Inc.

    ST. JOHN'S, NF, April 12 /PRNewswire/ - Husky Oil Operations Limited,
 operator of the White Rose oilfield, and Petro-Canada, joint owner of the
 field, announced today that their primary FPSO engineering design contractor,
 Maersk Contractors Newfoundland Limited, is proceeding with the final tender
 phase for the topsides production facilities planned for the White Rose
 Floating Production Storage and Offloading (FPSO) vessel. These facilities
 include oil, gas, and water production equipment that will be integrated with
 the FPSO hull.
     Maersk Contractors Newfoundland Limited was awarded the Front-End
 Engineering Design (FEED) contract for the FPSO in October 2000 by the project
 owners. Maersk has reduced the number of bidders for the topsides work to two.
     Aker Maritime Kiewit Contractors (AMKC) has been advised to refine the
 costs of a topsides fabrication and integration lump-sum bid. This work is
 expected to take until Q3 2001.
     Single Buoy Moorings (SBM), who have provided a lump-sum bid for topsides
 fabrication and integration, will also participate in the final tender phase,
 holding open its bid until October 1, 2001.
     "The final tender phase will involve thorough engineering and costing to
 define lump-sum costs for internationally competitive topsides," noted Will
 Roach, Husky's General Manager of East Coast Development. "Moreover, the first
 phase of the topsides bidding was encouraging in terms of the potential to
 meet target project costs on a fixed-price basis."
     The White Rose oilfield is located 350 kilometres east of Newfoundland.
 Recoverable reserves for the South Avalon pool of the oilfield are estimated
 at 230 million barrels. Husky filed the Development Application for the White
 Rose oilfield with the CNOPB in January 2001. In March the Board forwarded the
 documents to a public review commissioner to begin the formal public review.
     Husky Oil Operations Limited is a wholly owned subsidiary of Husky Energy
 Inc., a Canadian-based integrated energy and energy-related company
 headquartered in Calgary, Alberta. Husky Energy is publicly traded on the
 Toronto Stock Exchange under the symbol HSE.
 
 

SOURCE Husky Energy Inc.
    ST. JOHN'S, NF, April 12 /PRNewswire/ - Husky Oil Operations Limited,
 operator of the White Rose oilfield, and Petro-Canada, joint owner of the
 field, announced today that their primary FPSO engineering design contractor,
 Maersk Contractors Newfoundland Limited, is proceeding with the final tender
 phase for the topsides production facilities planned for the White Rose
 Floating Production Storage and Offloading (FPSO) vessel. These facilities
 include oil, gas, and water production equipment that will be integrated with
 the FPSO hull.
     Maersk Contractors Newfoundland Limited was awarded the Front-End
 Engineering Design (FEED) contract for the FPSO in October 2000 by the project
 owners. Maersk has reduced the number of bidders for the topsides work to two.
     Aker Maritime Kiewit Contractors (AMKC) has been advised to refine the
 costs of a topsides fabrication and integration lump-sum bid. This work is
 expected to take until Q3 2001.
     Single Buoy Moorings (SBM), who have provided a lump-sum bid for topsides
 fabrication and integration, will also participate in the final tender phase,
 holding open its bid until October 1, 2001.
     "The final tender phase will involve thorough engineering and costing to
 define lump-sum costs for internationally competitive topsides," noted Will
 Roach, Husky's General Manager of East Coast Development. "Moreover, the first
 phase of the topsides bidding was encouraging in terms of the potential to
 meet target project costs on a fixed-price basis."
     The White Rose oilfield is located 350 kilometres east of Newfoundland.
 Recoverable reserves for the South Avalon pool of the oilfield are estimated
 at 230 million barrels. Husky filed the Development Application for the White
 Rose oilfield with the CNOPB in January 2001. In March the Board forwarded the
 documents to a public review commissioner to begin the formal public review.
     Husky Oil Operations Limited is a wholly owned subsidiary of Husky Energy
 Inc., a Canadian-based integrated energy and energy-related company
 headquartered in Calgary, Alberta. Husky Energy is publicly traded on the
 Toronto Stock Exchange under the symbol HSE.
 
 SOURCE Husky Energy Inc.