Subsea 7 S.A. announced the award of a sizeable(1) contract from Statoil for the Johan Castberg field development, located 240 km from Hammerfest in Norway.
The contract comprises the design, coating, fabrication and installation of a 53 km rigid flowline including 34 km of pipe-in-pipe flowline. Project Management and engineering will commence immediately at Subsea 7’s offices in Stavanger, Norway. Fabrication will take place at Subsea 7’s spoolbase at Vigra, Norway and offshore operations will be carried out in 2020.
Phil Simons, Subsea 7’s Vice President North Sea and Canada, said, “We are pleased to have been awarded this key project by Statoil and to be part of the further development of the oil and gas infrastructure in the Barents Sea, delivering regional content in the North of Norway. This award draws upon Subsea 7’s substantial experience in safely and effectively delivering rigid pipelay projects.”
(1) Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million.
About Subsea 7
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) is a leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry. We provide technical solutions to enable the delivery of complex projects in all water depths and challenging environments.
About Statoil
Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in more than 30 countries, present in several of the most important oil and gas provinces in the world. Building on more than 45 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. Statoil is among the world's largest net sellers of crude oil and condensate, the second-largest supplier of natural gas to the European market, and we also have substantial processing and refining operations. Statoil’s equity oil and gas production is around 2 million barrels oil equivalent per day. Statoil has contracted a fleet of around 90 ship for transportation of oil and LNG.
Statoil is headquartered in Norway with 21,000 employees worldwide, and is listed on the New York and Oslo stock exchanges.