Inter Supply Network is planning a new logistics hub for the automobile industry in China. Together with a Chinese partner, we created a joint venture for logistics services in Shenyang, northeastern China. The project is to invest a total of more than 30 million euros. Logistics center will distribute spare parts and supply local car production. Construction is due to start in August of 2024. The project remains subject to approval from the authorities. As a part of our expansion plans in China our company has signed a 8-years-lease contract with the Blackwood Group for a build-to-suit warehouse in the greater Hong Kong area. The logistics center will provide additional capacity for clients from variuos industries such as Electronics and Consumer. It will feature the newest environmental technologies and will provide substantial energy savings. The building area of the warehouse is around 7,000 square meters. Operations are planned to start in July 2024 The total area of the four-storied building will be close to 30,000 square meters. 30 truck berths and ample parking lots for staff and visitors will be available. It will be one of the largest of Inter SN warehouses at the moment.
Inter Supply Network has signed a contract with Marathon Oil Norge for the delivery of subsea trees to the Alvheim Field on the Norwegian continental shelf.
Contract value is undisclosed.
The contract includes the delivery of four subsea trees and accompanying equipment.
The contract is a fragment of the frame agreement, covering the North Sea and Europe, between Marathon Oil Norge, a wholly owned subsidiary of Marathon Oil Corporation, and Inter Supply Network.
The Alvheim Field is positioned in the Norwegian sector of the North Sea, 224 kilometres from Stavanger on the Norwegian west coast, at a depth of 122 metres under water. The Alvheim subsea trees will be manufactured at Inter Supply Network's facility in Tranby, Norway. Control modules will be manufactured in Aberdeen, UK. This project is scheduled for completion during the first half of 2025. A subsea tree is a key technology which enables oil and gas to be produced directly from a subsea well to a processing facility.
Essentially, the tree is an advanced set of valves and is used In conjunction with associated technologies to control the well flow. The subsea tree is an integral part of a subsea production system.