Kvaerner secures contracts from Shell UK

Kvaerner has been awarded a Frame Agreement from Shell UK Exploration and Production, for the supply of subsea umbilicals. The Frame Agreement, awarded to Kvaerner Oilfield Products, has an estimated value of approximately NOK 400 million over the next three years, with the first call-off expected in December 2001 – January 2002. Additionally, Shell UK Exploration and Production has also awarded Kvaerner a contract for the supply of umbilicals for the Penguins Development. This contract is valued at NOK 186 million. The scope of work includes project management, engineering and the manufacture of steel tube umbilicals. The umbilicals will be manufactured at Kvaerner Oilfield Products’ facility in Moss, Norway. The Frame Agreement has a duration of three years, and Shell has expressed its intention to expand this into a global agreement for subsea umbilicals.

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