OSLO -- Statoil has issued a letter of intent to Grenland Group for modification work on the Åsgard field FPSO in the Norwegian Sea. The vessel produces and offloads oil and exports gas to the Åsgard C platform.
Grenland’s scope of work involves replacing the swivel stack for the oil and gas transfer process.
The contract value is estimated at around NOK 110 million ($17 million). Work starts immediately, and the project is due for completion during 2011.