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Snorre contract to Fabricom

June 29, 2007, 09:00 CEST

The Stavanger-company Fabricom has been awarded a contract worth NOK 1.4 billion for the further development of the North Sea's Snorre field.

The further development will improve oil recovery from the present 45% to 55%. The extra oil production is estimated at 66 million barrels.

Fabricom will reorganise low pressure production as well as upgrade the Snorre A platform's capacity for water treatment, water injection and gas injection.

The contract covers responsibility for engineering, procurements, construction, offshore installation and commissioning assistance. Comprehensive studies also form part of the contract.

Snorre is one of Statoil's most important oil and gas producing fields and its further development will greatly prolong its production lifetime.

"Work on Snorre's further development demonstrates Statoil's commitment and ambition to maximise the value of its Norwegian continental shelf interests," says Arne Sigve Nylund, Statoil's acting head of the Tampen organisation.

The deal with Fabricom states that Statoil can expand the scope of work even further, should this be appropriate.

Rosenberg Verft in Stavanger has been chosen as partner in relation to construction supply, as well as other aspects. Work at Fabricom's head office in Stavanger begins immediately and will continue until 2012.