Statoil awards contract for the turret mooring system of Johan Castberg

Source: Statoil

Statoil has signed a contract with SBM Offshore for delivery of the turret mooring system on the floating production ship for the Johan Castberg field.

Statoil has signed a contract with SBM Offshore for delivery of the turret mooring system on the floating production ship for the Johan Castberg field.

This is a specialized delivery that only a few suppliers internationally have the competence to deliver. We look forward to continuing the good cooperation with SBM Offshore, to ensure a safe and efficient delivery of the turret, says Torger Rød, head of project development in Statoil.

Statoil delivered plans for development and operation (PDO) for Johan Castberg to Norwegian authorities earlier this week. All contracts are subject to final approval of the PDO.

The investment costs for Johan Castberg will be approximately 49 billion. Expected recoverable resources are estimated at 450-650 million barrels of oil equivalents. This makes the Johan Castberg project the largest offshore oil and gas project in the world that is being sanctioned in 2017. The planned start-up of the field is 2022.

The partnership in Johan Castberg consists of Statoil (Operator 50%), Eni (30%) and Petoro (20%).

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