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| Technip awarded contract by Statoil Technip in consortium with Subsea 7 has received a letter of intent from Statoil for a 2 year Frame Contract for reeled pipe installation services in Norway. The consortium is based on a 50/50 split of revenue and contribution of internal resources and assets between the two parties. The actual contract revenue will depend upon Statoil's project requirements, however based on Statoil's commitments as at contract award, a total contract value of approximately €200 million (NOK 1.6 billion) is estimated. This includes project management, engineering, fabrication and installation of all Statoil's reeled pipe applications for 2007 and 2008. write your comments about the article :: © 2006 Construction News :: home page |