Grenland Wins Engineering Contract for HiLoad DP from Remora

HiLoad DP is the next generation oil offloading system from offshore fields to tankers. The contract includes detailed design and engineering and will start August 1, 2006. The contract has a value of approximately NOK 20 million. The work will be performed in Grenland Group's offices in Sandefjord.

HiLoad DP is a unique L-shaped floating docking and offloading terminal with dynamic position keeping (DP) capabilities. The vessel enables loading of oil from an offshore field installation to any standard tankers as specialized DP shuttle tankers with the same offloading regularity, but without any tanker rebuild needs. HiLoad DP accommodates any tanker, and can operate at any oil field and water depth.

Grenland Group is pleased to be an important supplier to Remora ASA in the launching of the next generation offshore loading technology. - By the signing of this contract we take our extensive experience a step into a new technology, meant for the future, says Hallgeir Skogen, president and CEO of Grenland Group ASA.

Grenland Group is a full-service engineering, procurement and construction company aiming to enhance the business of its customers. The Company consists of two divisions, Technology Division and Fabrication Division. Grenland Group has activities at 13 locations in Norway with a total of 950 employees. In addition, the company has engineering subsidiaries in Houston and Kuala Lumpur.