Grenland Group to Construct Subsea Equipment for Ekofisk Field

Grenland Group has signed a contract with FMC Technologies valued at approximately NOK 50 million for the construction of subsea equipment for the Ekofisk field.

The contract includes procurement and construction of two wellhead systems, two water injection manifolds and one subsea protection structure.

The equipment is part of FMC Technologies' contract with ConocoPhillips, announced in June 2008, for the supply of equipment and services for a subsea water injection development in the Ekofisk field. Located in the Greater Ekofisk Area, this water injection development is a replacement of the existing Ekofisk 2/4 W injection platform at the southern part of the Ekofisk Complex.

Manufacture of the equipment is already in progress at Grenland Group's yard in Langesund. Initial deliveries to FMC Technologies are scheduled to occur in the first quarter of 2009 and the remaining scope will be delivered throughout 2009.

FMC Technologies has an option in the contract for an additional seven wells and future provisions for up to 50 wells.