Offshore staff

STAVANGER, Norway --Statoil has signed 17 frame agreements with 12 suppliers to safeguard its valve requirements over the next five to seven years. The total value exceeds $336 million.

The agreements cover the spectrum of the company's offshore and land-based operations. According to Rune Norseng, VP for procurements in the Norwegian E&P business area, the move "secures access to essential equipment at competitive prices in a market with high demand."

Emerson, Kent Introl, and CCI are supplying control valves with a combined contract value of $139 million. Statoil's overall goal is to reduce its annual procurement expenses by $1.077 billion.

4/25/2007