Kvaerner Awarded Two New Contracts

Kvaerner has been awarded two contracts worth more than US$36.5 million. The larger contract is with Westcoast Energy Inc. of Vancouver, Canada, for valued at US$34 million, for the engineering, design, fabrication, construction and commissioning of a gas processing facility.

In addition, Kvaerner Process Systems has been awarded a CO2 Membrane Gas Removal unit to be installed in Venezuela by the State Petroleum organisation, PDVSA, for its Bitor field.

The facility is located in the north eastern part of the Province of British Columbia, Canada, an area well known for its established gas reserves and further development potential. Construction, completion and commissioning are scheduled for June of 2002.