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-Norwegan TTS Energy agrees to supply drilling units.

M2 EQUITYBITES-September 6, 2011--Norwegan TTS Energy agrees to supply drilling units(C)2011 M2 COMMUNICATIONS

6 September 2011 - Norwegian ship-equipment maker TTS Group ASA (OSL:TTS) said today its unit TTS Energy AS and a consortium of companies signed a letter of intent (LoI) to provide two wellhead platform drilling units (WPDU) for oil and gas company OSX Brasil SA (SAO:OSXB3).

TTS will supply drilling packages worth some NOK675m, which is around 50% of the overall value. It will team up with Siemens A/S, the Danish unit of German engineering group Siemens AG (ETR:SIE), Norwegian AS Nymo and US-based M-I Swaco.

OSX Brasil entered the deal via its subsidiary OSX WHP 1 & 2 Leasing BV.

(EUR1 = NOK7.7)

((Comments on this story may be sent to>PDSeptember 6, 2011>JNM2 EQUITYBITES.PRICEDATENOT APPLICABLE.DAY

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Publication:M2 EquityBites (EQB)
Date:Sep 6, 2011
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