Kvaerner Lands $29 Million In Contracts

Kvaerner AS has landed two offshore contracts totaling $29 million. The first contract is from Woodside Energy Ltd., and the second is from Santa Fe International Corp.

Kvaerner will supply a subsea production system for phase 2 of the Laminaria development for Woodside. Laminaria is located on block AC/L5 in the Timor Sea off Australia. This contract is worth $11 million.

Santa Fe has contracted Kvaerner to fabricate two complete Clip Riser systems for its newbuild semisubmersibles at a cost of $18 million. The riser systems will be equipped for dual-density drilling. Delivery is schedule for May and November of 2002 with an option to order a third system.


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