Statoil renews contracts for USD 1.2 billion

Two long-term Statoil contracts worth a total USD 1.23 billion for servicing 20 installations on the Norwegian Shelf have been awarded to subcontractors. Two companies in particular scored big.

BY MAZ PLECHINGER, ENERGIWATCH

Statoil continues to renew its large-scale multi million-dollar service contracts. On Tuesday, the Norwegian oil major announced that the two companies Beerenberg and Prezioso Linjebygg will for the next 15 years handle isolation and surface treatment on 20 of the company's total 29 installations on the Norwegian Shelf as well as on land. The contracts are worth a total of USD 1.23 billion.

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