Grenland Group Wins Ormen Lange Contract

Grenland Group has signed a letter of intent with FMC Technologies in Kongsberg for the fabrication, assembly and testing of subsea structures for Norsk Hydro's Ormen Lange Southern Field Development in the Norwegian North Sea. The contract has a value of approximately NOK 150-160 million in revenue to Grenland Group. This is, in value, one of Grenland Group's largest, isolated assignments within subsea fabrication ever.

The subsea structures to be fabricated and assembled by Grenland Group, will have a total weight of over 1400 tonnes. The largest unit is an eight slot manifold with a protection structure of approximately 1100 tonnes.

The production systems shall be fabricated at Grenland Group's yards in Grenland and in Tonsberg, Norway. The largest units shall be fabricated at the Tønsberg yard. Previously, Grenland Group has successfully delivered similar structures to FMC and Hydro for this large development project. The Ormen Lange Southern Field Development is an expansion of the Ormen Lange field. The field is located 120 km (75 miles) off the western coast of Norway at a water depth of 900 meters (2,950 feet). The delivery of the subsea structures is scheduled for November 2008.

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