On behalf of the Johan Sverdrup licence, Statoil is awarding contracts for two Johan Sverdrup jackets to Kvaerner Verdal and Dragados Offshore S.A.

The contract awarded to Kvaerner Verdal has a value of approximately NOK 1 billion and covers engineering, fabrication and construction of the steel jacket for the Johan Sverdrup processing platform. Weighing 17,700 tonnes, the jacket will be constructed at the yard in Verdal and installed on the Johan Sverdrup field in the summer of 2018.

“This is the third delivery based on the letter of intent signed by Statoil and Kvaerner for delivery of jackets. This means that Kvaerner will deliver 3 of 4 jackets for the first phase of the Johan Sverdrup development,” says Kjetel Digre, senior vice president for the Johan Sverdrup development project.

“Having documented learning and synergies in connection with existing contracts, Kvaerner has become the supplier of these three jackets and will contribute to improved competitiveness and maximised value creation from Johan Sverdrup,” says Digre.

The contract awarded to Dragados Offshore S.A. covers engineering, fabrication and construction of the steel jacket for the Johan Sverdrup utility and accommodation platform. Weighing 7,600 tonnes, the jacket will be constructed at the yard in Cadiz. Field installation is scheduled for the summer of 2018.

“We are pleased to include Dragados Offshore in the Johan Sverdrup project, which is a complex puzzle requiring precision and quality in all deliveries. We have good experience with Dragados Offshore from construction of the jacket for the Statoil-operated Mariner project. We are looking forward to resuming our good cooperation, and from day one we will focus on utilizing our experience and ensuring the same quality in this Johan Sverdrup assignment,” says Digre.

The investment costs in the first phase of the Johan Sverdrup development are estimated to be in the order of NOK 117 billion (2015 value) with expected recoverable resources in the range of 1.4 – 2.4 billion barrels of oil equivalent. The ambition is a recovery rate of 70% for Johan Sverdrup.

The first phase of the Johan Sverdrup field development will consist of four installations, including a utility and accommodation platform, a processing platform, a drilling platform and a riser platform, as well as three subsea water injection templates. The platforms will be bridge-linked.

The Johan Sverdrup field partners: Statoil 40.0267% (operator), Lundin Norway 22.6%, Petoro 17.36%, Det norske oljeselskap 11.5733% and Maersk Oil 8.44%.​​​

About Statoil

Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Stavanger, Norway, with approximately 23,000 employees worldwide, and are listed on the Oslo and New York stock exchanges.

About Kvaerner

Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore plants for upstream oil and gas production around the world. Kvaerner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 2 900 HSSE-focused and experienced employees are recognised for delivering some of the world's most amazing and demanding projects.

In 2014, the Kvaerner group had consolidated annual revenues of approximately NOK 14 billion and the company reported an order backlog at 30 June 2015 of NOK 17.7 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange.