Major strategic contracts for Teamtrade
New frame agreements worth more than NOK 170 million were secured by Teamtrade in February.
Korean fabricator Samsung Heavy Industries awarded it a contract in connection with the Valemon project in the North Sea. Deliveries from Teamtrade under this frame agreement will include instruments, valves and fittings as well as design and completion of instrument cabinets, and are due to run from 2012 until the project is completed in 2014.
A contract for construction and completion of a hydraulic power unit (HPU) and wellhead control system has also been secured for the same project. Work begins immediately for completion at the end of this year.
Teamtrade has also been awarded an important frame agreement by Cameron for instrumentation of Xmas trees. Running for eight years with two five-year options, this contract will initially cover deliveries to the ConocoPhillips Gead project.
These orders come in addition to existing frame agreements for instrumentation held by Teamtrade from such companies as ConocoPhillips and Statoil, as well as operation and maintenance contracts for 35 installations on the NCS.