Akofs Offshore has been awarded a contract for light well intervention services using the Akofs Seafarer vessel for all Equinor-operated licences in the period 2020 to 2025.
Equinor is the operator of about 560 subsea wells on stream on the Norwegian continental shelf. The wells require maintenance, repairs and new production actions. In 2017 Equinor performed 55 light well intervention operations, the average break-even for new production being less than USD 4 per barrel.
Granted for a period of five years the contract for wireline operations on Equinor’s subsea wells includes an option for one 3-year extension. The estimated contract value for the five years is slightly less than NOK 3 billion. Among the services included in the contract are running of well control package, wireline services, remotely operated vehicle, some logging services and well tractor use.
Akofs Seafarer is 156 metres long, and thus a substantially larger vessel than those formerly used for well interventions for Equinor.
“The past three years we have been performing light well intervention activities during the periods of the year with best weather. We now wish to perform all-year interventions, with a vessel working in the same way as mobile rigs when it comes to waiting on weather. This is a robust vessel which will be able to operate large parts of the year,” says Geir Tungesvik, Equinor’s senior vice president for drilling & well.
The contract is a continuation the letter of intent signed between Equinor and Akofs Offshore on 16 May. Akofs Offshore is a subsidiary of Akastor.
About Equinor
Equinor, is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.
About AKOFS Offshore
AKOFS Offshore, headquartered in Oslo, Norway, is a global provider of vessel based subsea well intervention and installation services to the oil and gas industry. In addition to the AKOFS Seafarer, the company is operating two specialized vessels for Petrobras in Brazil on long term contracts. The Skandi Santos has successfully performed subsea intervention and equipment installation work since 2010, and Aker Wayfarer commenced similar operations early 2018.