Pharmadule Emtunga Awarded Statoil's Kristen Rig Contract

A contract worth about NOK 240 million to build the living quarters for Statoil's Kristin platform in the Norwegian Sea has been awarded to Pharmadule Emtunga in Sweden. Placed by the group on behalf of the licensees, this job covers engineering, procurement and construction of the quarters with helideck and control room The unit will have a total floor area of about 3,600 square meters, and provide 104 berths in single cabins. It is due to be installed on the platform topsides in the spring of 2004.

Total investment in the Kristin development on the Halten Bank is estimated at NOK 17 billion, with production scheduled to begin on October 1, 2005. The field is set to deliver about 35 billion cubic meters of gas up to 2016. Output of condensate and natural gas liquids should total 220 million barrels and 8.5 million tons respectively.

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