Aker to Supply Umbilicals to Endeavour
Aker Solutions has signed a contract with Endeavour Energy UK, a subsidiary of Endeavour International Corporation, to supply subsea umbilicals and associated equipment for the East Rochelle development project located offshore UK. The contract value is approximately NOK 83 million ($15 million). Aker Solutions will supply one 30 kilometer infield control umbilical and one 650 meter riser umbilical that will provide all system functions for the Rochelle field. Subsea umbilicals are deployed on the seabed to supply necessary control and chemicals to subsea oil and gas wells, subsea manifolds and any subsea system requiring a remote control.
Endeavour Energy Awards Contract to Technip
Endeavour Energy UK Ltd, a subsidiary of Endeavour International Corporation, awarded Technip an EPCI(1) lump sum contract, worth around $111 million, for the East Rochelle development in the United Kingdom North Sea. The field is located approximately 185 kilometers north-east of Aberdeen, Scotland in 140 meters of water. The contract covers full project management and detailed design, fabrication, installation and pre-commissioning of 30 kilometers of pipe-in-pipe, flexible riser(2), free issue umbilical(3), subsea isolation valves and manifolds. It also covers tie-in spools, trenching, backfill and rockdumping work. Technip’s operating center in Aberdeen will execute this contract.
Smedvig Invests in Endeavour
Endeavour International Corporation has signed an agreement with the Smedvig Family Office of Norway for a current investment of $40 million (USD: 75.43, -0.30, -0.39%) and with the intent to increase that investment to a total of $100 million (USD: 75.43, -0.30, -0.39%) in the future to support the strategic activities of Endeavour. This investment will take the form of a convertible note and is expected to close in mid-January upon completion of required consents and approvals. "It is a significant vote of confidence for the Smedvig family to make this investment in our management team and company," said William L. Transier, chairman, president and chief executive officer.
