Statoil commissions Aker for subsea life extension work

Statoil (OSE:STL) has awarded Aker Solutions (Oslo Børs:AKSO) a frame agreement for subsea operations and services on the Norwegian continental shelf.

Offshore staff

STAVANGER, Norway – Statoil (OSE:STL) has awarded Aker Solutions (Oslo Børs:AKSO) a frame agreement for subsea operations and services on the Norwegian continental shelf.

This covers installation of subsea equipment, maintenance, upgrade and recertification of tools and installed equipment; and workover/life extension activities of subsea wells.

Aker’s award lasts five years, with options for up to three more, depending on the number of projects Statoil decides to execute.

“We are not only refurbishing subsea trees to guarantee an extended lifetime, but we are also upgrading to accommodate more functionality, enabling Statoil to increase production capacity from each well,” said Alan Brunnen, head of Aker Solutions’ subsea business area.

Statoil will start with a subsea tree refurbishment project on theTroll field in the North Sea, the world’s biggest subsea development in terms of number of wells.

Aker Solutions’ facility at Aagotnes, outside Bergen, Norway, will support this and other projects. The site, established in 1994, has to date supported the installation of more than 200 subsea treesoffshore Norway.

Aker Solutions will further develop the service base over the next two years, adding two new workshops, new logistic facilities, and a new office block including what it calls “state-of-the-art operational support systems.”

2/27/2013

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