StatoilHydro Stretches Time on 3 M&M Contracts with Aibel

StatoilHydro has advised Aibel that it will exercise its option to extend 3 of the company's 7 Maintenance and Modification Contracts. The exercised options cover the Troll-Sleipner area, Kasto-Draupner and parts of the Oseberg area.

The scope of work in the contracts covers Project Management, Engineering services, Procurement, Prefabrication and Installation services, in addition to Maintenance Assistance. The options are valid for two years and will have an annual estimated value of MNOK 1400.

"We regard this as a declaration of trust and a confirmation of our long-term and good cooperation with StatoilHydro. The extension of these contracts will ensure continued and safe employment for Aibel's employees and our suppliers in Norway," commented Jan Skogseth, President Aibel AS.