Grenland to Manufacture Equipment for Pan Pandora Project

Grenland Group has received a Letter of Intent from FMC Technologies' Kongsberg operation for the manufacture of equipment to support the Pan Pandora Project. 

FMC Technologies recently signed an agreement with Statoil for the development of subsea installations for the Pan Pandora field. Pan Pandora is an offshore oil and gas field located in water depths of approximately 950 feet (290 meters) in the Norwegian sector of the North Sea. All equipment will be based on a subsea standard solution designed by Statoil and FMC. 

As a supplier to FMC Technologies Grenland Group, through this Letter of Intent has agreed to deliver one Integrated Template Structure and one Manifold for this project. Total weight for the delivered structures will be about 350 tons. 

The work will mainly be performed at Grenland Group's site in Tonsberg, a site that has previously delivered a significant number of large subsea structures to FMC Technologies. Anticipated contract value for Grenland Group will be around MNOK 40.

Planned construction start is August 2010 with planned delivery in Q1 /2011.