Statoil (NYSE:STO) has exercised a total of three options with Aker Solutions, for the delivery of workover systems, or equipment for well completion and maintenance. These options have a total value of approximately NOK 1.25 billion (US $230.1 million).
Statoil has set new requirements regarding the multifunctionality of installation systems, enabling the same system to be used regardless of which supplier is chosen to deliver the seabed infrastructure. This move will provide simplified logistics and standardized equipment to improve the efficiency of the operations.
“The use of this type of universal system means that we will boost completion and maintenance capacity. It also represents a necessary renewal of our toolbox systems,” says Siri Kindem, head of Technology excellence in Statoil.
“In close cooperation with our suppliers we have developed solutions that are at the forefront: technologically, operationally and in terms of safety.”
Statoil has seen that greater industrialisation and standardisation on the Norwegian continental shelf (NCS) are key to reducing costs and transforming resources to reserves in the most efficient way possible in terms of time and cost.
The company has therefore developed its own standard catalogue for seabed equipment. The installation systems are part of the standard catalogue and are the set of tools needed for seabed installations and well maintenance.
“In order to boost added value on the NCS and achieve our production targets, we are totally dependent on using smarter solutions and reducing the costs of drilling and well operations. We will be seeing more of this type of solutions in the future,” says Øystein Arvid Håland, head of Drilling and well in Statoil.
The options are based on the award of the contract for Vigdis North East to Aker Solutions in the first quarter of 2011 and work under the contract will commence immediately.
The installation systems will be used primarily on the Troll and Gullfaks fields and on the company’s fast-track projects. Deliveries are expected in the course of autumn 2012 and spring 2013.