Source: Subsea 7, Statoil
Subsea 7 S.A. (Oslo Børs: SUBC) announced today the award of a SURF contract valued at approximately $70 million from Statoil (NYSE:STO) on the Tordis Area in the North Sea.
This contract is for the engineering, procurement and installation of two 10” 12 km oil production pipelines, together with a pull-in to Gullfaks C and tie-in at the Tordis PLIM. Engineering will commence immediately with offshore operations in 2011 and 2012.
The Tordis oil field lies in block 34/7 in the Tampen area of the Norwegian North Sea, and came on stream in 1994. In addition to the main Tordis structure, the development embraces the Tordis East (1998), Borg (1999) and Tordis South East (2001) fields. These discoveries have all been developed with subsea installations. Water depth is roughly 200 metres.