The value of the agreements between Statoil and Dresser-Rand is estimated to be $1 billion (NOK 6.1 billion), including options to extend the agreements for an additional five years.

The agreements cover the purchase and installation of new equipment for several Statoil project locations, consisting of compressors, and turbo generator sets that will be used in both onshore and offshore applications.

All equipment and services will be supplied from Dresser-Rand global operations, while service and maintenance will be supplied from the company’s service center in Kongsberg, Norway.

Rune Norseng, Statoil’s vice president for procurements in operations support, exploration and production Norway, commented that he believes that the agreement will help to increase the company’s energy efficiency and reduce emissions from its facilities.