STAVANGER, Norway – Statoil (OSE:STL;NYSE:STO) has awarded Technip (PARIS:TEC) a letter of intent for construction of the hull for a spar platform on the Aasta Hansteen field in the Norwegian Sea.
This will be the first spar platform on the Norwegian continental shelf, and according to Statoil, the first with the storage capacity of about 25,000 cu m (157,245 bbl) of condensate. Produced gas will be exported via Norwegian Sea gas infrastructure.
Technip will manage the project in a consortium with Hyundai Heavy Industries, which will build the structure in South Korea, and transport it to Norway on a heavy-lift carrier. Technip will design, procure, and deliver the spar platform hull readied for mating with the platform topsides in Norway.
Additionally, the supplier will design and prepare specifications for steel rigid risers and a complete mooring system. Estimated contract value is more than $653 million.
Recoverable reserves for Aasta Hansteen (ex-Luva) are thought to be about 47 bcm (1.7 tcf) of gas and 0.8 bcm (5 Bbbl) of condensate.
“We’ve had several early-phase and concept studies for the entire Aasta Hansteen project, with Technip, Aker, Samsung, FMC, Saipem, and IKM, among others, involved in developing the concept,” said Anders Opedal, Statoil’s senior VP for projects. “The hull is the first execution contract to be set, and we are satisfied that Technip has the necessary capacity to take on this assignment following strong competition with other players.”
During the fall, the company expects to issue contracts for topsides, subsea facilities, pipelines, marine operations, and drilling.
A final investment decision for the project is expected either late this year or early in 2013. First production is expected to start by the end of 2016, and operations potentially continuing through 2040. The Aasta Hansteen field project will be run from Harstad, Statoil’s new operational asset in northern Norway.