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.

Photo: Marit Hommedal - Statoil

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.

"These contract awards mark an important milestone in the long-term improvement effort within insulation, scaffolding and surface treatment services. Beerenberg Corp AS and Prezioso Linjebygg AS have competitive deliveries, and with these long-term contracts we ensure a predictable and clear contribution to the cost reductions we want to achieve together," says Kjetil Hove, senior vice president for operations technology of Development and Production Norway, in the statement.

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