Norwegian oil and gas major Statoil (STO) Wednesday said Samsung
Heavy Industries Co. Ltd. (010140.SE) got a NOK2.3 billion ($412
million) contract for construction of topsides at the Valemon
platform in the North Sea.
Statoil said the contract covers engineering, procurement and
construction of the topsides and living quarters, as well as an
option for additional construction.
"Several suppliers based in Norway will also benefit from this
contract award as sub-contractors for Samsung," Statoil said in a
statement. "In addition there will be deliveries under Statoil's
other frame agreements."
Norwegian firm Grenland Group (GGG.OS) and France's Technip SA
(TEC.FR) will perform engineering work related to the construction,
Statoil announced Wednesday.
The Valemon field will be one of Statoil's largest development
projects on the Norwegian Continental Shelf in the time ahead. The
field is estimated to contain about 206 million barrels of oil
equivalent.
Statoil is the operator of the field with a 64.3% ownership. Its
partners are Total (TOT) with a 2.5% stake, Royal Dutch Shell PLC
(RDSA) subsidiary Enterprise Oil with 3.2% ownership and Norwegian
state-owned Petero with 30% ownership.
At 0831 GMT Statoil shares traded 0.6% higher at NOK144.10.
-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097;
katarina.gustafsson@dowjones.com