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Statoil hands out subsea contracts to Aker Solutions, TechnipFMC, OneSubsea

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Staff Writer | December 14, 2017
Statoil has awarded new subsea maintenance framework agreements to Aker Solutions, TechnipFMC and OneSubsea.
Oil exploration   Statoil-operated subsea wells
The contracts have a total estimated value of more than NOK 8 billion ($962.5M) and a duration extending to 2023. In addition, the contracts include options for a total of 20 years.

The estimated total value will be approximately NOK 40 billion, should all the options with the assumed scope of work be exercised, Statoil said on Thursday.

The new agreements apply to Statoil-operated subsea wells on the Norwegian continental shelf with equipment from the three suppliers and include maintenance of equipment belonging to more than 500 wells.

The figures include planned wells in the field developments of Johan Castberg and Snorre Expansion Project.

The contracts apply to subsea maintenance and additional equipment for the Norwegian continental shelf, with work both offshore and onshore. The agreements are effective from March 1, 2018, with a fixed duration of five years and include five four-year options.

Most of the maintenance work will be carried out at the Ågotnes Base outside Bergen, in addition to the Polar Base in Hammerfest.

Norwegian oil services company Aker Solutions confirmed the contract award from Statoil, adding that its value depends on the amount of work ordered by Statoil under the agreement.

This is currently estimated at about NOK 3 billion ($360.9M) for the fixed period and will be booked in fourth-quarter orders, Aker Solutions said.

The contract scope covers subsea lifecycle services, including offshore installation and retrieval of equipment, maintenance, engineering and operations support.