17.5 euro million contract awarded to Nexans for the supply of umbilical cables to Statoil's Mikkel oil field

Paris, July 31, 2001 � Nexans (Paris: NEX.PA), the worldwide leader in the cable industry, has been awarded a 17.5 million Euro contract to supply 75 km of umbilical cables to Statoil's Mikkel field in the Norwegian Sea. The umbilical cables, capable of conveying fluids, electricity and telecommunication signals, are to be supplied through FMC Kongsberg Subsea as the main sub-sea production contractor for Statoil in this development.

Mikkel is being brought on-stream as a pure sub-sea gas and condensate field and is due to begin production in 2003. It will be tied back to the Åsgard B platform, for wellstream processing, by the umbilical cables supplied by Nexans.

Yvon Raak, President of Nexans' Energy Division, commented "We are delighted to have been chosen for this important contract. It reinforces our position as one of the leading manufacturers of umbilical cables, which is a result of our experience in this field and unceasing commitment to research and development. This has given Nexans a product and service portfolio of unrivalled technical excellence. For example, Nexans has the world record for the largest umbilical power cable ever produced and installed as well as the world record for the deepest umbilical installed of its type".

In October this year, Nexans will begin manufacturing the cables at its specialist umbilical plant in Halden, south of Oslo, Norway. Three sections are to be produced, the longest, at 68 Km, will link the Mikkel field and Åsgard B platform whilst the medium length, at 6 km, shall connect two sub-sea wells. The shortest length, at 700m, will go from the seabed to Åsgard B as a dynamic umbilical, hanging from the floating platform to the seabed, it will therefore be specially designed to move in-line with the platform's movements under all weather conditions. Deliveries under this contract are to take place in June 2002.

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About Nexans

Formed from Alcatel Cables and Components, Nexans is a worldwide leader in the cable industry. Nexans product portfolio includes an extensive range of cables and systems. Nexans solutions can be found in every area of people's lives, from telecommunications and energy networks, to aeronautics aerospace, automobile, building, petrochemical and medical applications. Operating in 20 countries, Nexans employs 19,000 people and had sales in 2000 of euros 4.8 billion. More information on www.nexans.com

About Statoil

Statoil is the largest operator on the Norwegian continental shelf. It also has several interests in a number of oil and gas fields and serves as business manager for the state's direct financial interest (SDFI) in Norway's offshore sector. A Network of roughly 500 service stations is operated through the Statoil Detalijhandel company. The Statoil Norge subsidiary handles sales of heating oils, electricity, propane and lubricants. Mainland activities include plants for gas treatment, refining and methanol production as well as crude oil terminal. Statoil also operates the world's most extensive submarine pipeline system for gas and oil. Its headquarters are located at Focus outside Stavanger, with several regional offices around the country. The Navion shipping and offshore company is owned 80 per cent by Statoil.

www.statoil.com