Statoil: Letter of intent
Statoil has signed a letter of intent with a consortium consisting of Technip Offshore Norge AS and Subsea 7 Norway NUF for reeled pipe installation services on the Norwegian continental shelf.
The letter of intent relates to a 2-year framework contract for reeled pipe installation services. The value of the contract is estimated at NOK 1.6 billion, provided that the project commitments as per contract award are sanctioned. Work at a value of NOK 300 million has so far been approved on the