Kvaerner to upgrade Petrojarl I

Kvaerner, the Anglo-Norwegian engineering and construction group, has signed a Letter of Intent with PGS Production AS to undertake modification and upgrade work on the production ship, Petrojarl I. The value of the work will amount to approximately NOK300 million ($34.44 million). The letter of intent came at a convenient time for Kvaerner, and will mean that 600 employees previously on temporary leave are now back at work. As many as 900 employees will be involved with the upgrade of the vessel. All of the work will be undertaken at the Rosenberg yard in Stavanger, and is due to be completed in time for the vessel to start production from Statoil`s Glitne field in July.