The AF Group (AFG) has been awarded a contract with Statoil, on behalf of Gassco as operator, regarding removal and recycling of the platform B11.

The AF Group was awarded a contract for the removal and recycling of the H-7 platform in 2011, with an option to decommission the B-11 platform. It is this option that is now exercised.

The platform is located at the German continental shelf of the North Sea, and has been a part of the pipeline which exports gas to Europe. The contract covers planning, engineering, removal and demolition of the installation.

Environmental Base Vats on the west coast of Norway will be used as decommissioning site. The site is Europe's most modern reception facility for decommissioned offshore installations.

The contract value is approx. NOK 500 million excl. VAT.

The work will start in 2012, and is planned to conclude by the end of 2016.

"The AF Group has built up expertise and capacity to handle removal and recycling of obsolete petroleum installations. It is therefore a recognition that Statoil, on behalf of Gassco, again has chosen the AF Group. 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.

For further information:

CEO: Pål Egil Rønn, tel. +47 90 95 77 13
EVP Environment: Robert Haugen, tel. +47 95 12 00 97
CFO: Sverre Hærem, tel. + 47 95 24 51 67