Statoil renews valve maintenance contract

Statoil renewed a frame agreement with Solberg & Andersen for the maintenance of valves on all of the state oil company's onshore and offshore facilities as well as installations under construction and planned. The seven-year contract is valued around $22.4 million including options. The agreement covers 250,000 valves. Solberg & Andersen has performed Statoil's valve maintenance since the summer of 1995. The new contract takes effect April 1.