Norway: Grenland Group Receives 3 LoI Worth USD 38.8 Million from FMC Technologies

Grenland Group has received three Letters of Intent for a total of NOK 220 million from FMC Technologies’ Kongsberg operation.

Manufacture of equipment to support the Ormen Lange Project

Grenland Group, as a supplier to FMC Technologies, has received a Letter of Intent to manufacture and deliver one 8 slot Manifold and one Foundation Base Structure to FMC Technologies. Total weight for the delivered structures will be about 1075 tons.

The work will mainly be performed at Grenland Group’s site in Tønsberg, a site that has previously delivered a significant number of large subsea structures to FMC Technologies. Anticipated contract value for Grenland Group will be approximately NOK 140 million. Deliveries are scheduled to commence in the second quarter of 2011, with final deliveries occurring in the first quarter of 2012.

Statoil fast-track projects

Grenland Group, as a supplier to FMC Technologies, has received two Letters of Intent to support FMC’s recent awards for Statoil fast-track projects in the North Sea. Grenland Group will deliver two Integrated Template Structures and two Manifolds. Total weight for the delivered structures will be about 700 tons.

The work will mainly be performed at Grenland Group’s site in Tønsberg, a site that has previously delivered a significant number of large subsea structures to FMC Technologies. Anticipated contract value for Grenland Group will be approximately NOK 80 million. Deliveries are scheduled to commence in the third quarter of 2011.

Grenland Group is a leading supplier of Engineering, Procurement and Fabricator 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 turn over of near NOK 1.5 billion in 2009.

220 million Norwegian kroner = 38.87554 million U.S. dollars

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Source: Grenland , March 15, 2011;