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SAR secures landmark deal with Statoil

SAR has secured a three-year framework contract for receiving, deposition, transportation and treatment of drilling waste for Statoil. Including options the contract has a total duration of maximum 9 years. The contract will regulate recycling services at Fjordbase in Florø, Vestbase in Kristiansund, Helgelandsbase in Sandnessjøen and Polarbase in Hammerfest. The total value is estimated to be almost NOK 800 million if all options are exercised.

Since 2002, SAR has been the leading supplier of waste handling services to Statoil in Norway and is delighted that Statoil has once again demonstrated its trust in SAR through this award. Over many years SAR has made major investments in treatment plants for drill cuttings and oily water along the Norwegian coast and is now reaping the rewards of this investment. On the back of this contract, SAR will be able to continue upgrading the plants and positioning ourselves for new assignments. The contract will also mean positive spinoffs for local communities, including jobs in the recycling depots, security and predictability. SAR also foresees an increase in staff numbers both locally and centrally.

SAR has established interests and performs assignments in a number of countries and this contract can form the basis for expanded cooperation with Statoil's international operations.

As a business we are looking forward with great anticipation to many more years of productive partnership with Statoil.

"It is a cornerstone contract for our company which reinforces SAR's strategic position for qualified delivery of waste treatment services on the Norwegian continental shelf" declares SAR's CEO, Mr Per Kristian Nagell.

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