Aker BP is the operator of these development projects, which are planned to be executed together with Aker BP’s partners.
The final decisions to submit the plan for development and operation (PDO) to Norwegian authorities are scheduled to take place in the respective license partnerships during the first half of December. If the PDOs are approved by the respective license partnerships, the plan is to submit the PDOs to the authorities for approval before year-end.
Subsea7 has, through the Aker BP Subsea Alliance (a partnership between Aker BP, Subsea7 and Aker Solutions), executed the FEED work for these projects, under a single source supplier framework. Subsea7 expects that the above-mentioned projects could lead to the following contract awards, subject to the PDO submission in mid-December:
- A contract for NOAKA field development project worth more than $750 million;
- A contract for Skarv Satellite project worht between $300 million and $500 million; and
- A contract for Valhall PWP-Fenris project worth between $150 million and $300 million.
The contracts will be recorded in backlog upon signature by all parties, expected to occur in mid-December.