STAVANGER, Norway– Statoil has contracted Kværner Verdal to supply the riser platform jacket for the Johan Sverdrup field in the central Norwegian North Sea.
Scheduled for delivery in the summer of 2017, the contract value is about NOK 2.0 billion ($261 million).
This contract award is contingent on an investment decision for the Johan Sverdrup development scheduled for next month, and is subject to the Storting’s (the Norwegian parliament’s) approval of the plan for development and operation.
The contract is an execution of parts of the letter of intent that Statoil entered into with Kværner in 2014 fordelivery of two of the four jackets for the development.
The first phase of the field development consists of four installations and jackets and comprises an accommodation platform, a drilling platform, a riser platform, and a processing platform.
Statoil says at peak the field will constitute 25% of the total Norwegian continental shelf production. The company aims to recover 70% of the reserves from a 50-year perspective.