Gulf Oil and Gas accountACCOUNT

Statoil Awards Long-Term Subsea Contracts on the Norwegian Continental Shelf

Source: www.gulfoilandgas.com 12/14/2017, Location: Europe

Share |
Statoil has awarded new subsea maintenance framework agreements to Aker Solutions, TechnipFMC og OneSubsea. The contracts have a total estimated value of more than NOK 8 billion and a duration extending to 2023.

In addition, the contracts include options for a total of 20 years. The estimated total value will be approximately NOK 40 billion, should all the options with the assumed scope of work be exercised.

“We have entered into long-term agreements lasting for 25 years with all options included. This provides increased predictability and stable framework conditions both for the suppliers and us. The negotiations have been constructive and we have agreed on agreements with simplified requirements. We have established a good starting point for safe and efficient subsea well activities on the Norwegian continental shelf going forward,” says P?l Eitrheim, Statoil’s chief procurement officer.

The new agreements apply to Statoil-operated subsea wells on the Norwegian continental shelf with equipment from the aforementioned suppliers and include maintenance of equipment belonging to more than 500 wells. The figures include planned wells in the field developments of Johan Castberg and Snorre Expansion Project.

“Production from subsea wells constitutes a significant part of Statoil’s total volumes from the Norwegian continental shelf. The new framework agreements are therefore important to achieve a sustainable cost level and long-term production. The agreements provide us with a good foundation for continuing the close cooperation related to further streamlining, digitalisation and technology development within the subsea market,” says Kjetil Hove, senior vice president for operations technology.

The contracts apply to subsea maintenance and additional equipment for the Norwegian continental shelf, with work both offshore and onshore. The agreements are effective from 1 March 2018 with a fixed duration of five years and include five four-year options.

Most of the maintenance work will be carried out at the ?gotnes Base outside Bergen, in addition to the Polar Base in Hammerfest.

Maintenance and Repair News in Norway >>

Austria >>  1/16/2018 - Brent crude prices consolidated recent gains at around $70 a barrel on Tuesday (16 Jan 2018), a level not seen since 2014’s dramatic oil market slump....
United Kingdom >>  1/16/2018 - Archer Limited announces that effective from the 1st of January 2018, Apache have awarded a new 3 year contract to Archer for the provision of Platfor...

Norway >>  1/15/2018 - During 2017, Aker BP increased its reserves (2P) by a net of 202 million barrels of oil equivalents (mmboe), to a total of 913 mmboe. The company deli...
Austria >>  12/28/2017 - Oil prices rose on Thursday, lifted by strong data from top importer China amid thin trading activity ahead of the New Year weekend. ...

Related Categories: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 

Related Articles: Consultancy  Engineering  FEED  General  Maintenance and Repair  Process Technology Licensing  Production Engineering  Project & Resource Management 


Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 |

More News

 

Oil & Gas Companies in Norway >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.