Conoco and Aker Kvaerner have announced the establishment of a new company, DeepWater Composites AS, that will manufacture and sell composite products for use in the deepwater exploration and field development segments of the oil and gas industry. Conoco and Aker Kvaerner will each hold a 50% interest in Deepwater Composites AS. DeepWater Composites has offices in Oslo, Norway, and Houston.
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