Kvaerner Wins $27M Statoil Contract

Kvaerner ASA won a $27 million contract from Statoil to upgrade its Norwegian offshore installations. Kvaerner's contract for work on Statoil's Sleipner Vest field also includes an option for a further contract to connect a reservoir, called Alpha Nord, to the Sleipner T-platform. Kvaerner said the work would begin immediately and was scheduled for completion by the end of 2004. The Sleipner Vest field started production in 1996 and it comprises the platforms Sleipner B and T, which are linked to Sleipner A, producing gas and condensate. - (Reuters)