Grenland Lands Vega Subsea Job from FMC

Grenland Group on Friday agreed to sign a letter of intent with FMC Technologies, Kongsberg, for the fabrication, assembly and testing of three large sub sea structures for Norsk Hydro`s Vega project, offshore Norway. In value, this is one of Grenland Group`s largest separate assignments so far within sub sea fabrication. The expected date for the contract award is stipulated to 30th May 2007.

The subsea structures (Manifolds and Integrated Template Structures) to be fabricated and assembled by Grenland Group, will have a total weight of more than 1200 tonnes. The fabrication of the production systems will be carried out by Grenland Group`s yards in Grenland and in Tonsberg.

The gas and condensate fields Vega and Vega South lie in 380 meters of water in the blocks 35/8 and 35/11 about 80 kilometers west of Floro in Sogn and Fjordane.

The delivery of the subsea structures is scheduled for January 1, 2009. The contract value for Grenland Group will amount to approximately NOK 100 million.

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