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Norway's Kvaerner lifts value of Shell contract by $892 mln
January 9, 2013 / 7:16 AM / 5 years ago

Norway's Kvaerner lifts value of Shell contract by $892 mln

OSLO, Jan 9 (Reuters) - Norwegian oil services firm Kvaerner expects that its work on the expansion of Royal Dutch Shell’s gas facilities at Nyhamna in western Norway will be worth significantly more than it earlier predicted, it said on Wednesday.

Based on completed front end engineering and design work, the estimated value of the framework agreement has been raised to include an additional 5 billion crowns ($892 million), lifting the value of the contract to 11 billion crowns, it said in a statement.

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