July, 2013: Vest Ventil AS has entered into a four year frame agreement with Statoil Petroleum AS, a subsidiary of Statoil ASA.
Vest Ventil will under the agreement supply all traditional on/off actuated and manual operated valves used in the oil & gas industry and become a key valves supplier to Statoil.
The Statoil frame agreement is the most important strategic contract award for Vest Ventil to date and will contribute significantly to the company’s growth. The contract start-up is 1 July 2013 and in addition to the initial four-year period, the award includes options for two two-year extensions.
“We’re extremely pleased with this award and the confidence Statoil show us”, says managing director Morten Rabben of Vest Ventil. “We will serve all Statoil operated platforms and installations on the NCS with valves and our lead-time was a key criteria for Statoil when choosing Vest Ventil.”
Vest Ventil will also provide valves to Statoil operated land facilities and to the company’s international facilities. Wintershall Norge AS will also benefit from the agreement.
For further information:
Morten Rabben, General Manager, Vest Ventil, tel: +47 922 24 850