Norway: Grenland Group Gets LOI from FMC Technologies Kongsberg on Kirinskoye Development

Grenland Group has received a letter of intent from FMC Technologies to fabricate and deliver one manifold and foundation, as well as two protection structures.

The equipment is part of FMC’s recent agreement with Gazprom Dobycha Shelf LLC to manufacture and supply subsea production equipment for the Kirinskoye field.

Grenland Group will begin work at its various workshops in Grenland early this autumn. Total weight for the Grenland Group delivery will be about 450 tonnes. Deliveries are scheduled to commence in the second quarter of 2011. This contract will have a value of approximately NOK 50 mill. in revenue to Grenland Group.

Kirinskoye is a subsea-to-beach gas and condensate field off Russia’s Pacific coast. It is located in water depths of approximately 300 feet (90 meters) within the Kirinsky Block of the Sakhalin III project, 17 miles (28 km) offshore Sakhalin Island.

Grenland Group is a leading supplier of engineering, procurement and fabrication services to the global offshore oil and gas industry and to the landbased process industry. The group employs around 1050 people and has businesses in 10 locations in Norway with the main activities in Vestfold, Telemark and Rogaland. The group is also operating in China. Grenland Group had a turnover of near 1.5 Bill NOK in 2009.

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Source: Grenlandgroup, August 23, 2010: