Norwegian oil services group Aker Solutions has described its deal to support the Johan Sverdrup field as one that will define them for years to come.
The firm has secured a £65million contract to provide engineering services, procurement and management assistance for Statoil for up to 10 years on the giant North Sea field.
The deal includes providing front-end engineering design work for the field, which is thought to contain up to 3billion barrels of oil.
“The Johan Sverdrup field is one of Norway’s largest offshore oil discoveries and of huge importance to both our company and the country’s oil and gas industry,” said Aker chairman Øyvind Eriksen
“The contract will define Aker Solutions for years to come.”
The project’s partners announced on Friday that the launch of the field was being delayed by up to a year, with a decision on the concept for developing the site not now expected to come until early next year.
However, despite the delay the project’s partners have decided to push on with awarding the FEED contract for the field, which will require an initial investment of up to £13billion from the companies involved – including Statoil, Det norske, Lundin Petroleum, and Maersk Oil.
The field, around 140km west of Stavanger, is one of the largest discoveries in recent years, and is set to produce up to 200,000 barrels per day once at full operation.
“We mark a new phase for the North Sea area where our history started on the Norwegian continental shelf,” said Statoil’s development chief Øystein Michelsen.
“The value creation from the Johan Sverdrup field will be significant for the partners and for Norwegian society. In addition it will contribute substantial activity for the oil and gas industry—including the supplier industry.
“The contract for front-end engineering design is the key in securing optimal development of the field and maturing a concept for final investment decision by the partners. We are pleased to have secured capacity with an experienced contractor.”
Recommended for you
