Statoil Awards Visund Flexible Riser Contracts to NKT

Statoil has sent a letter of intent to the Danish supplier NKT Flexibles for the engineering, procurement and construction of flexible risers for the North Sea Gjoa and Visund projects.

The values of the contracts are in the order of NOK 500 million for Gjoa and NOK 135 million for Visund. In addition, there will be options for further deliveries to other projects.

The contracts comprise a total of seven flexible risers for the Gjoa platform and three for the Visund platform for delivery in April/May 2009.

The risers for Gjoa are between 690 and 730 meters long and have an internal diameter of between 14 and 16 inches. The risers for Visund are between 970 and 1,120 meters long with an internal diameter of six inches.

"The awarding of these contracts is a breakthrough for NKT as a risers supplier to Statoil," says Svein Dretvik, who heads Gjoa subsea development.

Prior to the awarding of the contracts, Statoil has carried out a coordinated evaluation assessing the company's total need for riser deliveries for 2009 and 2010. This evaluation has been necessary in a limited supplier market.

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