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Oil, Gas, Petrochemical Industry News
News Release from: Aker Kvaerner Oil and Gas | Subject: Woodside Petroleum
Edited by the Processingtalk Editorial
Team on 26 November 2007
Subsea frame agreement with Woodside
Petroleum
Aker Kvaerner has signed a frame agreement with Woodside Petroleum to become the preferred supplier of steel tube umbilicals to the Australian oil and gas giant
The frame agreement is awarded for a three year period with optional periods of one + one year and has the potential to support Woodside Petroleum with its proposed LNG developments The agreement will make the Aker Kvaerner subsea division the main supplier of steel tube umbilicals to the Woodside field developments off the western coast of Australia
This article was originally published on Processingtalk on 17 Nov 2004 at 8.00am (UK)
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"It is of major strategic importance that we now get a proper foothold in the Australian market," says Raymond Carlsen, executive vice president Aker Kvaerner Subsea: "The predictability a frame agreement offers is beneficial to both Woodside and us.
We are very pleased that Woodside considered our technical solution to be the best and most cost effective available".
As part of the contract, Aker Kvaerner will be responsible for the design, manufacturing, testing, certification, delivery and installation support of the umbilical systems.
Woodside is Australia's largest publicly traded oil and gas exploration and production company with a market value of AUD 34 billion (USD 30 billion).
The contract could be worth between NOK 150 - 200 million to Aker Kvaerner annually.
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