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11

Grenland Group To Earn NOK 160m

The full-service engineering, procurement and construction company, Grenland Group, has signed a letter of intent with a leading supplier and manufacturer of subsea production, FMC Technologies's subsidiary in Kongsberg for the fabrication, assembly and testing of subsea structures offshore Angola

The full-service engineering, procurement and construction company, Grenland Group, has signed a letter of intent with a leading supplier and manufacturer of subsea production, FMC Technologies's subsidiary in Kongsberg for the fabrication, assembly and testing of subsea structures offshore Angola.

The subsea structures that will be part of FMC Technologies’s delivery for Total's Pazflor Project, located in Block 17 deepwater offshore Angola.

The contract has a value of approximately NOK 160 million in revenue to Grenland Group.

The subsea structures to be fabricated and assembled by Grenland Group will have a total weight of over 1200 tones. Deliveries will be completed over a multi-year period and are expected to begin in 2009.