Press release

 

8 January 2009

 

Royal Boskalis Westminster nv has acquired three oil- and gas-related contracts for projects in Europe and the Middle East. The total contract value amounts to approximately € 100 million.

 

Two contracts are linked to the "Nord Stream" project. This project encompasses the construction of two 1,220-kilometer gas pipelines from Russia to Northern Germany through the Baltic Sea. Boskalis will prepare the seabed for the laying of the pipelines over the full distance of the Nord Stream pipelines, and also execute the shore approach of the pipelines in Germany.

 

The contract for the preparation of the seabed for the 1,220-kilometer double pipeline requires the construction of rock beds and berms using approximately 320,000 tonnes of rock to level and stabilize the seabed. The project will be executed in a 50/50 partnership with Tideway and be realized in 2010.

 

The contract for the shore approach for the double pipeline in Germany requires the dredging of a 23-kilometer trench for the pipes, a pipe-pull over a distance of approximately 800 meters and the backfilling of the dredged trench. A 650-meter cofferdam will be constructed on the waterline to protect the pipeline. The project will be executed in a 50/50 partnership with Rohde Nielsen A/S and will also be realized in 2010.

 

The third contract comprises the infrastructure, including the shore approach, for an oil pipeline from the Safaniyah offshore field to the mainland of Saudi Arabia. Boskalis will dredge a 7-kilometer trench and backfill the trench with sand after completing a pipe-pull. The project will be executed in 2009 for Saudi Aramco.

 

In all three projects, Saipem will be the leading contractor. The energy-related offshore activities of Boskalis have shown strong growth over the last few years. Going forward, Boskalis sees numerous opportunities for further growth. The company also benefits from the strong safety record it has developed in these types of projects.

 

The Boskalis strategy is designed to benefit from the key macro-economic drivers that are fueling global demand in our selected markets: the rapid growth in global trade, surging energy consumption, expanding population pressures and the challenges of climate change. These offshore projects emphasize the need for infrastructure in order to accommodate the strong demand for energy resources.

 

Royal Boskalis Westminster nv is an international group with a leading position in the world market for dredging services. Its core activities are the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 8,000 employees.

 

 

 

For further information please contact:

Martijn Schuttevâer  
Director of Investor Relations & Corporate Communications
Telephone: +31 78 69 69 822 / +31 62 00 10 232
Fax: +31 78 69 69 020
E-mail: m.l.schuttevaer@boskalis.nl

 

This press release can also be found on our website www.boskalis.com.

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