Veidekke ASA : Veidekke ASA: Veidekke to build transformer station for oil platform

  Veidekke ASA : Veidekke ASA: Veidekke to build transformer station for oil

Veidekke Entreprenør AS has signed a contract to build an onshore facility at
Kollsnes outside Bergen in connection with electrification of the Martin Linge
platform in the North Sea. The principal is Siemens, who has a contract for
the facility with Total E&P Norge AS. The value of this contract for Veidekke
is NOK 150 million excluding VAT.

The contract is a turnkey contract where Veidekke will undertake planning,
groundwork and construction of the transformer station. The facility will send
high voltage alternating current (AC) through a 161 kilometre subsea cable to
the platform. This will be the world's longest cable of its type. The 55
megawatt effect of the cable corresponds to the power requirements of 24,000

"Electrification of the Norwegian continental shelf is in keeping with the
authorities' long-term goal to reduce CO2 emissions from the petroleum
industry. Martin Linge will be among the first platforms on the Norwegian
continental shelf that replaces all polluting gas turbines at sea with clean,
renewable energy from land," says project manager Kjell Skjølingstad with

Construction work is currently starting, and will be completed for testing of
the subsea cable in 2015.

For more information please contact:
Project Manager Kjell Skjølingstad, Veidekke Entreprenør AS, tel +47 934 60
Communications Manager Helge Dieset, Veidekke ASA, tel. +47 90 55 33 22,

Veidekke is one of Scandinavia's leading contractors and property developers
with a turnover of NOK 20 billion (2012) and 6,300 employees. Activities
include building and construction projects, residential developments, asphalt
plants, gravel and aggregates, and road services. Our values are professional,
honest, enthusiastic and ground-breaking. Our goals for health, safety and the
environment, HSE, have equal status with our financial goals. Veidekke is
characterised by a strong corporate culture with employee involvement and
co-ownership as important cornerstones. More than half of the employees are
co-owners, holding around 20 per cent of the Group's shares between them. The
company is listed on the Oslo Stock Exchange and has always posted a profit
since it was founded in 1936.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


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Source: Veidekke ASA via Thomson Reuters ONE
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