According to Oil and Gas Journal and Statoil, a new Cavern for the storage of liquid propane will be built by Statoil at the Mongstad refinery near Bergen.
Costs for the new Cavern are estimated at NOK 180 million and the contracts will be signed by the end of October.
Due to a rockfall last year, the damage was unrepairable with severe ice formation and reduction of storage capacity.
"Although the Cavern has been tight for the last year, we now have a much lower storage volume than we had planned", said John Stangenes, Vice-President of Vestprosess which operate the refinery.
The new Cavern is to be built by November 2003.