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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Atlantic Coal | LSE:ATC | London | Ordinary Share | GB00B142G994 | ORD 0.07P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.09 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
RNS No 0188n ATLANTIC RICHFIELD COMPANY 9th October 1997 VECO Selected as Alaska North Slope Contractor For Installation, Completion of 'MIX' Project ANCHORAGE, Alaska, Oct. 9 /PRNewswire/ -- VECO Construction, Inc. has been selected as the North Slope construction and installation contractor for the Prudhoe Bay Miscible Injectant Expansion (MIX) Project, it was announced today by ARCO Alaska, Inc. VECO will be responsible for significant modifications to the Prudhoe Bay Central Gas Facility scheduled to begin in 1998 and for installation of a 2,300-ton compressor module that will be delivered by barge to the North Slope in August 1999. The $160 million MIX project will add incremental production of 20,000 barrels of liquids per day in late 1999 and increase ultimate Prudhoe Bay liquids recovery by 50 million barrels. "This project is a key part of our plan for achieving ARCO's North Slope production goal of "No Decline After '99,'" said Kevin Meyers, senior vice president of ARCO Alaska's Prudhoe Bay business unit. ARCO Alaska, a unit of Los Angeles based ARCO (NYSE: ARC), is managing the project for BP Exploration (Alaska) Inc., Exxon Company USA and the other Prudhoe Bay owners. The project management team includes personnel from both ARCO and BP Exploration. David Woodward, Prudhoe Bay Asset Manager for BP Exploration, said "The MIX Project is a demonstration of the Prudhoe owners' commitment to continue to invest in the field to extend its life well into the 21st century." Terms of the VECO agreement are confidential. ARCO Alaska will solicit proposals for construction of the 2,300-ton compressor module and associated facilities in October, with a contract award expected early 1998. Contracts for the project's truckable components will also be awarded in early 1998. "We are using an 'Alaska First' strategy for completion of this project," Meyers said. "That means Alaskan-owned, Alaska-based companies will have the opportunity to compete for all of this work. We selected Anchorage-based VECO as our North Slope construction contractor because of VECO's familiarity with our facilities and proven ability to deliver quality work at a competitive cost." "VECO Construction, Inc. and its Alaska employees are pleased to be selected as the North Slope Installation Contractor on the MIX Project," said Bill Allen, Chief Executive Officer of VECO Corporation. "They will be working very closely with their sister companies, VECO Operations and Norcon, to make the installation a success. We are also very excited about having the opportunity to bid on the compressor module and truckable components that will be required for this project, as we feel we can be very competitive doing it in Alaska." The MIX project will increase the amount of solvent, or miscible injectant, made at Prudhoe Bay by 20 percent. This solvent will be available for use in the Prudhoe Bay Miscible Gas Enhanced Oil Recovery Project which is already the world's largest. CONTACT: Ronnie Chappell of ARCO Alaska, 907-263-4102 Web site: http://www.arco.com END MSCOCCCNBDDBBKK
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