STAVANGER, Norway – Statoil has signed a new framework agreement with Norwegian research center Sintef valued at potentially $186 million.
The accord is valid for four years with an option for two plus two years.
Statoil entered into its first framework agreement with Sintef in 1985. Their cooperation has since brought advances in areas including LNG, multi-phase and materials technology, and carbon dioxide handling.
“Sintef has both wide and expert knowledge in disciplines that are important to Statoil, such as deepwater and multi-phase technology,” said Statoil research and development head Karl Johnny Hersvik.
“The international focus on research is greater than ever, competition is tougher and research and development will play a fundamental role in solving global energy challenges. Our responsibility is to make sure that Statoil possesses the necessary research expertise and capacity, and the agreement with Sintef is an important part of this.”
Statoil plans to spend half its NOK 2.4-billion R&D budget for 2011 on external suppliers.