Kvaerner, Saipem Sign $28M Deal

Tuesday, December 19, 2000
Kvaerner ASA said it has an intentional deal with Italian oilfield services company Saipem for a subsea umbilical project in the Gulf of Mexico. The deal, valued at about $28 million, calls for Kvaerner to manufacture and supply production control, electrohydraulic steel tube umbilicals for the Canyon Exress subsea development, in which Saipem is the main contractor, it said in a statement. The steel tube umbilicals will be manufactured at Kvaerner's.
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