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Wellstream Awarded Flexible Pipe Contracts Under Statoil Framework Agreement

19 July 2010

Wellstream, a leading manufacturer and supplier of flexible pipe systems and solutions to the offshore oil and gas industry announces the receipt of contracts from Statoil ASA for the Snorre development, offshore Norway as part of its three-year framework agreement for the design and manufacture of flexible pipe products.

The contracts cover the delivery of two large diameter dynamic export risers, and a large number of topside jumpers to act as strategic replacements. These contracts will be executed by Wellstream’s Newcastle upon Tyne, UK facility for delivery late 2010 and 2011.

Alasdair MacDonald, Acting CEO said of the awards “These are the first awards under our recently awarded Framework Agreement with Statoil and demonstrate the benefit of developing long term collaborative partnerships. We look forward to providing continued technical and engineering expertise to Statoil as part of their ongoing requirements for flexible pipe."