Statoil Charters Three LWI Vessels

Press Release
Wednesday, May 23, 2012
'Island Frontier': Photo credit: Statoil

Statoil strengthening increased recovery from subsea wells

Statoil has awarded contracts for new light well intervention (LWI) vessels. These “category A” units will contribute to increased recovery from Statoil’s approximately 500 operated subsea wells on the Norwegian continental shelf (NCS).

These purpose-built vessels are used for performing light well interventions, well operations and well maintenance without a riser-based system. Statoil can reduce well intervention costs by about 60% by utilising a LWI vessel instead of a conventional rig.

The contracts are worth a total of NOK 9.4 billion. Island Offshore vessels Island Frontier and Island Wellserver, which already have contracts with Statoil, have been awarded new five-year contracts. Eide Well Intervention, a new supplier in this segment for Statoil, has been awarded an eight-year contract for their newbuild, which employs a completely new technology.

The contracts with both companies come into effect in the spring of 2015, and include two options to extend for another two years.

A growing number of discoveries are developed via subsea wells, and it is important both to have equipment capable of maintaining these and to avoid using conventional drilling rigs for this type of work.

Jon Arnt Jacobsen, Statoil’s chief procurement officer said: "The rig market on the NCS is characterised by an aging rig fleet, and it is necessary to ensure sufficient and adequate rig capacity at sustainable rates. To address this, Statoil has put light LWI vessels – category A units – into service on a large scale."



 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Fire Departments Choose Sea-Fire Systems

Metalcraft Marine's Firestorm high-speed, aluminum fireboat represents a new generation in vessel technology, especially when fitted with Sea-Fire H Series engineered fire suppression systems.

Russian Liftings for Western Options at 12-Year Low

By Gleb Gorodyankin MOSCOW, Nov 25 (Reuters) - Exports of Russian crude oil to Western markets are set to fall by almost a third in December and reach a 12-year

Overwhelming Support for ‘Hit the HMT Target!’

Today, the American Association of Port Authorities (AAPA) applauded a “Dear Colleague” letter to the leadership of the Senate Committee on Appropriations that was signed by 22 senators,

Offshore

Pile Testing for Wikinger Wind Farm Launched

In October 2014 the first phase of the pile testing campaign for the Wikinger offshore wind farm project was launched after the site’s geotechnical investigation on the Baltic Sea had been completed.

Damen, Palfinger Upgrade North Sea Jack-Up Rig

With the support of Palfinger systems JUMP technology, Damen Shiprepair Vlissingen has completed an upgrade of a Keppel Fels ‘N’ Class drilling rig, one of the largest in the North Sea,

Vietnam Warship Visits Underscore Regional Tension

Vietnam on Tuesday showed off its two most powerful warships in the first-ever port call to the Philippines but an official said it was not trying to challenge

Energy

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

Energy’s Promising Future Threatened

Unrealistic Fears and Overstated Risks obscure the benefits of new seismic data. The United States stands poised on the edge of a bright energy future. After decades

Pile Testing for Wikinger Wind Farm Launched

In October 2014 the first phase of the pile testing campaign for the Wikinger offshore wind farm project was launched after the site’s geotechnical investigation on the Baltic Sea had been completed.

Vessels

Bollinger Delivers 11th FRC to the US Coast Guard

Bollinger Shipyards, Inc. has delivered the William Trump, the 11th Fast Response Cutter (FRC) to the United States Coast Guard.   The announcement was made by Bollinger Chief Operating Officer,

Newport News Lays Keel for Virginia-Class Sub

Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII), hosted a keel-laying ceremony Saturday for the future USS Washington (SSN 787), a

World’s Largest Containership First Tested at MARIN

MARIN was delighted to take part in a truly historic milestone in the industry when Daewoo Shipbuilding and Marine Engineering (DSME) asked MARIN to investigate

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1505 sec (7 req/sec)