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| Aker Kvaerner and Statoil sign frame agreement Aker Kvaerner has signed a letter of intent with Statoil ASA to enter a five-year frame agreement for the delivery of subsea production systems and related operational services. The agreement will make Aker Kvaerner's subsea division a preferred supplier to deliver complete subsea solutions to Statoil's new field developments as well as additional equipment to new and existing fields. The frame agreement for aftermarket services is valid for new fields. The agreement for delivery of subsea production systems is awarded for a five year period with an optional period of two (2) x two (2) years. The contract for operational services will run for five years. The contract between Statoil and Aker Kvaerner is expected to be signed - and made effective - in the second half of September 2007. write your comments about the article :: © 2007 Construction News :: home page |