Press release 5 April 2018
This is information that Ratos AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07.15 CET on 5 April 2018.
Today Statoil has awarded Aibel a letter of intent for engineering, procurement and construction of the deck for a process platform on the Johan Sverdrup field. The final contract is expected to be signed later this year and has an estimated value of approximately NOK 8 billion.
The contract, which will be the largest in Aibel's history and one of the largest individual contracts that has been awarded on the Norwegian continental shelf, includes engineering, procurement and fabrication (EPC) of a process platform (P2) in phase 2 of the Johan Sverdrup development. The platform will consist of three modules, from which two will be built at Aibel's yard in Haugesund and the third module will be built at Aibel's yard in Thailand. Work will start immediately while construction activities will commence in 2019. The finished platform deck at around 23,000 tons is scheduled for delivery to Statoil in 2022. The project will at its peak involve around 3,500 employees.
"It is very pleasing that Aibel has been awarded this major and important contract, which is proof of the company's competence and competitiveness as well as the experience gained from the delivery of the Johan Sverdrup drilling platform", says Ratos's CEO Jonas Wiström.
Aibel is a leading service company for the oil and gas industry. The company is also established in renewable energy. Aibel has approximately 4,000 employees. Ratos's holding in Aibel amounts to 32%.
For further information, please contact:
Jonas Wiström, CEO, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, +46 8 700 17 98
Financial calendar from Ratos:
Interim report January-March 2018 3 May 2018
Annual General Meeting 2018 3 May 2018
Interim report January-June 2018 17 August 2018
Interim report January-September 2018 25 October 2018
Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos's portfolio consists of 13 medium-sized Nordic companies, with the largest segments in terms of sales being Industrials, Construction and Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and has a total of approximately 12,700 employees.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ratos via Globenewswire
