Grenland Wins Pluto LNG Work

Grenland Group has signed a letter of intent with FMC Technologies in Kongsberg for the fabrication, assembly and testing of subsea structures that will be part of FMC's delivery to Woodside's Pluto LNG Project. Woodside Petroleum is the largest Australian oil and gas company. The contract has a value of approximately NOK 70-75 million in revenue to Grenland Group. The subsea structures to be fabricated and assembled by Grenland Group, will have a total weight of over 700 tonnes.

The subsea structures shall be fabricated at Grenland Group`s yards in Grenland, Norway. Woodside is the owner and operator for the large gas field Pluto, located northwest of Australia. The delivery of the subsea structures is scheduled for spring 2009.

Grenland Group is a full-service engineering, procurement and construction company aiming to strengthen the business of its clients. Grenland Group has activities at 14 locations in Norway with a total of 1150 employees. In addition, the company has engineering subsidiaries in Shanghai, Houston and Kuala Lumpur. Grenland Group had a turnover of approximately NOK 1.5 billion in 2006.