Subsea Equipment Contract, Aker Solutions

Tuesday, March 31, 2009

Aker Solutions has been awarded a contract by StatoilHydro for the delivery of a complete work-over system for subsea trees at the challenging high-pressure/high-temperature (HP/HT) Kristin field in the Norwegian Sea. Contract value is approximately $49.2m.
 
Scope of work includes engineering, procurement, manufacturing and testing of a complete work-over intervention system, including tools. A work-over system is equipment that is needed to perform well intervention activities on subsea wells. The objective of work-over operations is to maintain and increase production from the subsea wells.
 
The contract is a call-off from the frame agreement signed between StatoilHydro and Aker Solutions in Q3 2007. The delivery is for StatoilHydro's Kristin Tool Pool & Exploration and Production North unit.
 
This is the third work-over system Aker Solutions will be delivering to StatoilHydro's Kristin field, which is a high-pressure/high-temperature (HP/HT) field with temperatures up to 180°C and pressures up to 15 000 psi.
 
Aker Solutions has previously delivered a complete subsea production system to the Kristin field, which is located in 380 metres water depth in the south-western part of the Halten Bank in the Norwegian Sea. The field has been developed with 12 production wells in four subsea templates, tied back to a semi-submersible production platform. The gas and condensate field came on stream on 3 November 2005.
 
The work-over system equipment will be engineered and manufactured out of Aker Solutions' facilities at Fornebu and Tranby, Norway. Deliveries of the equipment are scheduled to be finalized in May 2010.
 
Contract party is Aker Solutions subsidiary Aker Subsea AS.

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