NOK 1 billion subsea contract to Aker Kvaerner
StatoilHydro has today, on behalf of the Morvin license group, awarded Aker Kvaerner a contract for the engineering, procurement and construction (EPC) of a complete subsea production system for StatoilHydro’s Morvin field in the Norwegian Sea. The contract, worth approximately NOK 1 billion, is a testament to Aker Kvaerner’s unique high-pressure/high-temperature (HPHT) subsea technology.
The Morvin contract is an addition to the scope identified in the frame agreement signed by Aker Kvaerner and StatoilHydro in September this year.
“Being awarded this contract underlines the strategic technology leadership position we have jointly developed over the past decades. For this project, the expertise and technology we have developed for handling fields with challenges related to high pressure and high temperature (HPHT) is particularly important,” says Raymond Carlsen, executive vice president, Aker Kvaerner Subsea
The subsea production system for the Morvin field will consist of two four-slot manifolds, three horizontal subsea trees, production control system, steel tube umbilicals, tie-in system and intervention tools. The technology is designed to handle pressures up to 15000 psi and temperatures as high as 170° degrees. The solution will be based on the technology used at the nearby Kristin field, another HPHT project delivered by Aker Kvaerner.
“We are in a unique position when it comes to delivering subsea production systems that are fully qualified for use in such extreme conditions. The oil and gas industry expects to see more HPHT projects in the coming years. We will continue to develop technology that matches expectations from our customers as well as the physical demands of the reservoirs,” adds Carlsen.
The Morvin field, operated by StatoilHydro, lies on the Halten terrace in the Norwegian Sea. It is located approximately 20 km west of the Åsgard B platform, some 200 km west of mid-Norway.
Final delivery for the project is May 2009. Manufacturing will be conducted at Tranby, Moss and Egersund, Norway; Aberdeen, UK; Batam, Indonesia; and Port Klang, Malaysia.
For further information, please contact:
Torbjørn S. Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542
Endre Johansen, communications manager, Aker Kvaerner Subsea. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: firstname.lastname@example.org
Lasse Torkildsen, senior vice president, Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39
For further information about sourcing and potential subcontracts for this project, please contact:
Harald Grieg Riisnaes, vice president, Global Supply Chain, Aker Kvaerner Subsea. Tel: +47 67 82 68 18
AKER KVÆRNER ASA, through its subsidiaries and affiliates (“Aker Kvaerner”), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation. The Aker Kvaerner group is organised in a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.
The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 50 billion and employs approximately 24 000 people in about 30 countries.
Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.27 percent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.
Aker Kvaerner Subsea is a leading provider of a complete range of surface and subsea solutions for the oil and gas industry - from concept screening and design through manufacturing, fabrication and commissioning. Aker Kvaerner Subsea’s ability as a world-wide total system provider is backed by a wide portfolio of products which are maintained for the complete life of field. Aker Kvaerner Subsea’s capability is available for both new and existing fields either as individual activities or complete packages.
This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com
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