AF Group Signs Contract for ‘H7 Platform Removal Project’

The AF Group (AFG) has signed the contract for the “H7 Platform Removal Project”.

The contract is signed with Statoil, on behalf of Gassco as operator for Gassled. The agreement covers planning, engineering, removal and demolition of the installation.

The contract value is approx. NOK 420 million, ex option works. The agreement also includes an option to decommission a similar platform, B11.

A condition for the contract is a final decision by the ownership Gassled on the implementation of the removal project.

This is the formal continuation of the Letter of Intent which was announced 28.06.2011.

The AF Group has built up expertise and capacity to handle removal and recycling of obsolete petroleum installations. This work lays the foundation for further growth within our environmental business in the North Sea”, says Pål Egil Rønn, CEO of the AF Group.

Source: AF Group, September 09, 2011;