Norway based energy company Statoil ASA (NYSE:STO) has signed a contract with a unit of Schlumberger Limited (NYSE:SLB) – Framo Engineeing. Per the contract, the unit will design and build subsea gas compression plants for the Gullfaks field, off Norway and will likely be the first structure globally to use subsea gas compression.
Subsea gas compression will assist in raising production from existing fields on the Norwegian Continental Shelf as well as augment the producing life cycle of the gas … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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