A.Kvaerner wins $220 mln Agip oil deal

/REUTERS, Oslo, August 17, 04/ - Norwegian construction group Aker Kvaerner said on Tuesday that it had sealed a deal with Italy's Agip for work at a Caspian Sea oilfield, estimated to be worth about $220 million. "Aker Kvaerner has signed a letter of intent to perform fabrication, outfitting and testing of seven barges for oil production in the giant Kashagan oilfield in the north Caspian Sea, offshore Kazakhstan," the company said in a statment. "Aker Kvaerner estimates the deal to be worth about 1.5 billion Norwegian crowns ($220 million)," it said. Aker Kvaerner said under the deal with Agip Kazakhstan North Caspian Operating Company N.V., the parties intended to sign a final contract for the work later this autumn. It said the work on the project would start immediately. [2004-08-17]