The construction work will probably start in March/April with an estimated construction period of 16 months.

"We will have 40 - 50 people on the job", says Veidekke's Project Manager, Mr. Oddvar Soma.

" The joint venture's offer is for a complete tunnel including technical installations. The tunnelling work will take place from two sides, both from Melkøya and from Hammerfest."

For further information, please contact

Mr. Oddvar Soma, Project Manager,
phone + 47 21 05 50 00 or + 47 995 81 789
Mr. Ole Arnfinn Opsahl, Executive Vice President,
phone +47 21 05 50 00 or + 47 909 78 568

See also "Facts About the 'Snow White Project' listed below and Statoil's Press Release, which is enclosed.


FACTS ABOUT THE "SNOW WHITE" PROJECT

The "Snow White" project is the largest industrial project ever in the county of Finnmark. The development includes exploitation of the deposits of gas and condensates in the "Snow White" field (Snøhvit/"Snow White", Albatross and Askeladd) in the Barents Sea, installations for transporting the well stream ashore, establishing and operation of the first large scale LNG-plant in Norway, as well as shipping the products from the site on Melkøya.

The project's products are LNG (liquefied natural gas), LPG (liquefied petroleum gas) and condensate (light oil). According to schedules, the LNG plant on Melkøya will be completed by the end of 2005.

The total construction activity in the period 2002 - 2006 is expected to bring about 28,000 man-labour years. According to estimations, the "Snow White" project will increase the employment level in Hammerfest by 350 - 400 jobs during the operational phase. Of these, 180 will be employed at the LNG-plant on Melkøya.