media release

Oil Field Contracts Secured

Akzo Nobel's International Coatings business has won two contracts to supply Africa's largest oil field development.

The company has secured two contracts for the USD 1.5 billion ExxonMobil development in Chad, one to coat the new facility itself and the other to coat a Floating, Storage and Offloading (FSO) vessel which will be moored 18 miles off the coast of Cameroon.

The oil will be treated at the Chad facility before being sent by a 1,070 kilometer underground pipeline through Cameroon to the port of Kribi, where it will be transferred to the FSO.

More than 150,000 liters of paint will be used to protect the facility in Chad. All the steel pipes and structures will be coated with Interplus® 256 and finished with Interthane® 990, while the 58 storage tanks will be coated with Interline® 359, a product designed to accommodate both the high and low temperature cargos that will be stored in these tanks.

The FSO, meanwhile, will be coated with around 200,000 liters of paint, including Intershield® 300, Interline® 850, Intergard® 403, Interzinc® 52 and Interseal® 670HS.

The ExxonMobil development, which will drill for oil in more than 300 wells in the Chad fields, has an estimated 900 million barrels of recoverable oil, with a production yield of approximately 250,000 barrels per day. It is expected to be operational by the end of 2003.

(Released: November 13, 2002)