High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Technip was awarded by Statoil a contract, worth approximately â‚¬90 million, for the Gygrid field development located in the Norwegian Sea at a water depth of 265 – 330 meters.
This contract covers engineering, procurement, welding and installation of flowlines, including a 19.5 kilometer pipe-in-pipe production flowline, a plastic-lined water injection flowline and a gas lift flowline of the same length, subsea equipment installation, and installation and tie-ins of new risers and umbilicals.
Technip’s operating center in Oslo, Norway will execute the contract. Flowline welding will take place in the Group’s spoolbase in Orkanger, Norway, while installation will be performed by the Apache II, a pipelay vessel from Technip fleet, in mid-2012.
The contract is subject to approval of the plan for development and operation of Gygrid by the Norwegian authorities.
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