Aker Kværner signs letter of intent
Aker Kværner has signed a letter of intent with the estimated value of NOK 1.5 billion (USD 224.4 million) for the fabrication, outfitting, and testing of seven barges for oil production at the giant Kashagan oilfield in the north Caspian Sea, offshore Kazakhstan, according to a release issued Tuesday.
The letter of intent states that the operator Agrip and Aker Kværner intend to complete the negotiations and sign the contract for the project later this fall. The work will start immediately due to an interim agreement.
«This project is an important stepping stone for Aker Kvaerner in the attractive markets connected to Kazakhstan offshore and to the fields in the Russian sector,» said Simen Lieungh, executive vice president in Aker Kvaerner.
Extensive field development will go on in the Kashagan field for the next 10 to 15 years.
The letter of intent covers fabrication, outfitting and testing of seven barge modules, including three oil separation barges, two gas dehydration and glycol regeneration barges, one emergency power generation and utilities barge and one fire fighting/sea water barge.
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