Grenland Group is to accomplish a complete offshore replacement of the existing swivel stack. The swivel stack transfers all kinds of services between the vessel and its subsea installations, including the oil and gas production.

The Åsgard field is central in the Norwegian Sea. The Åsgard A FPSO produces and load oil, and exports gas to the Åsgard C.

This contract confirms our position as a major EPCI contactor in the region. "We are very pleased that a world-class client like Statoil has chosen Grenland Group for this critical project," said Hallgeir Skogen, CEO Grenland Group.

Anticipated contract value for Grenland Group is close to NOK 110 mill., and this contract will contribute to a good base load for the Offshore Partner business stream. The project will start immediately, and is planned for completion within 2011.

Tags: Grenland Group