France to Defend Interests in STX Shipyards
The French government has told South Korea it will oppose any solution for shipbuilder STX France that is against national industrial interests, Industry Minister Christophe Sirugue told Reuters on Thursday on the eve of a deadline for bids. STX France is 66.7 percent owned by failed South Korean shipbuilding group STX. An insolvency court in South Korea ruled last month that the French arm could be sold either separately from the parent, or as part of a bigger sale. Bids are due by Nov. The French government, which owns the remaining 33.3 percent of STX France, hopes to strike a deal that separates the French arm from its South Korean parent and leaves the French state with a blocking minority stake.
Aker Kvaerner Gets Subsea Contract
StatoilHydro on behalf of the Morvin license group, awarded Aker Kvaerner a contract for the engineering, procurement and construction (EPC) of a complete subsea production system for StatoilHydro's Morvin field in the Norwegian Sea. The contract, worth approximately $181m is a testament to Aker Kvaerner's unique high-pressure/high-temperature (HPHT) subsea technology. The Morvin contract is an addition to the scope identified in the frame agreement signed by Aker Kvaerner and StatoilHydro in September this year. The subsea production system for the Morvin field will consist of two four-slot manifolds, three horizontal subsea trees, production control system, steel tube umbilicals, tie-in system and intervention tools.
