Norway’s Nyhamna plant upgrade cost to double

摘要

London—Kvaerner’s contract to upgrade the Nyhamna gas processing plant on the northwest coast of Norway is expected to nearly double to around $2 billion. The Norwegian oil and gas services company said in a statement on January 9 that work on the plant was now worth an extra NOK5 billion ($891 million), taking the total value of its work to NOK11 billion ($1.96 billion). Kvaerner signed a framework engineering agreement with Shell—the site operator—in April of last year and said that, based on completed front-end engineering and design work, the estimated value of the total had increased.