Oseberg contract to Kværner

March 4, 2002, 00:00 CET

As operator of the Oseberg field, Hydro has entered an intentional agreement with Kværner Oil & Gas for engineering, purchasing and construction of the gas compression module for the Oseberg C installation.

The EPC deal, valued at up to NOK 345 million, also entails modification of existing facilities on Oseberg C. Delivery of the gas compression module is set for May 2003 and hook-up will take place in summer of the same year.

The Oseberg C gas injection unit will increase gas injection capacity on the platform by 70 percent and substantially boost oil output. Enhanced oil production falls right in line with Hydro's sustainable development strategy to exploit existing resources close to existing infrastructure.

Additional participants in the Oseberg licenses (PL 053 and 079) are Petoro, Statoil, TotalFinaElf and ExxonMobil.