NOR Group Grabs AUD$122MM Subsea Service Contract

NorCE Offshore (NorCE), a subsidiary of Nor Offshore Ltd (NOR) in Singapore, where Solstad Offshore ASA (SOFF) holds an ownership share of 50%, has been awarded a 5-year contract with two yearly options from Woodside Energy Ltd. to support Woodside's IMR Campaign in Australia.

The contract will be worth AUD$122 million to the NOR Group, and will be undertaken in a strategic alliance with i-Tech 7 (a division of Subsea 7).

NorCE will be providing vessel management, subsea IMR and installation engineering support work while i-Tech 7 will be responsible for ROV integration, and related engineering services. Project alliance activities will be managed out of a joint Perth office.

The offshore work will be done using the CSV  "Nor Vision." The vessel, which is under construction in
Singapore, will be delivered early 2009 and will incorporate several Woodside enhancements.


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