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Equinor Awards Contracts worth NOK 2.5 Billion on the NCS

Source: www.gulfoilandgas.com 5/14/2019, Location: Europe

Equinor has awarded drilling service contracts at a total value of about NOK 2.5 billion, exclusive of options, to several suppliers. The services will be delivered to both new and existing fields on the Norwegian continental shelf.

Contracts for services related to liner hangers were signed in Equinor’s digital laboratory at Forus, Stavanger, on 14 May. Contracts for additional completion and downhole monitoring have been signed earlier.

From the left: Chris Jones, Europe OFS leader, Peggy Krantz-Underland, SVP Supplier Chain (/Anskaffelser), Jan Erik Klungtveit, business development manager, Geir Tungesvik, SVP Drilling & Well and Geir Egil Olsen, director Weatherford.

'These contacts will help us continue our safe and efficient drilling and well operations. The suppliers are specialists that we have worked with before, and we know what they stand for. We look forward to continuing our good cooperation,' says Geir Tungesvik, Equinor’s senior vice president, Drilling & Well.

The total contract value for these services is estimated at about NOK 2.5 billion for the 3-year fixed contact term. In addition, there are five 2-year options for all awards.

Niche deliveries
The contracts now signed cover niche deliveries complementing the integrated drilling and well service contracts signed in 2018.

'We have standardised the contract set-up between various suppliers. This simplifies the collaboration and creates win-win solutions. For these services, we do not buy services from the biggest suppliers only, but also from small-size suppliers with the required specialist competencies,' says Peggy Krantz-Underland, Equinor’s chief procurement officer.

The services are key to capturing additional value on the Norwegian continental shelf, aiming to improve the recovery rate from 50 to 60 percent.

Three services
The services related to liner hangers and additional completion are based on framework contracts with standardised conditions where the volume may vary. The estimated value is NOK one billion and NOK half a billion respectively for three years.

The downhole monitoring contracts were awarded in March, covering a predetermined scope at a value of about NOK 1 billion for three years.

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Related Articles: Analyzers, Gas  Calibration Equipment  Calibrators, Electronic, Pneumatic  Concentration  Conductivity Meters  Density  Detector, Gas  Dissolved Oxygen meters  Drilling Instruments  Float Switch  Gas meters  General  Indicators and Recorders  Leak Locators  Level meters  Liquid Measurement  Load cells  Monitoring & Control  Mud Control  Mud Logging  pH and REDOX  Pressure gauges/ Transmitters  Radiation Detection  SCADA Systems  Temperature gauges/ Transmitters  Thermocouples  Thermowells  Transducers  Transmitters  Transmitters, Pressure  Viscosity  Weather Station 


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