Aker Solutions to provide Cat-B well intervention services to Statoil
(Thomson Reuters ONE) -
17 April 2012 - Aker Solutions has entered a long-term agreement with Statoil to
provide a full range of heavy well intervention and light drilling services on
the Norwegian continental shelf. The contract period is for eight years, with
options for three further two-year periods (2+2+2). Contract value for the
initial eight-year period is approximately USD 1.9 billion. Work will be
performed from a new build Category B well intervention rig, which will be owned
and operated by Aker Solutions' subsidiary Aker Oilfield Services.
"Aker Oilfield Services was set up five years ago to develop smart, cost-
effective solutions for vessel-based intervention services. In 2009 we took full
ownership of the company with the objective of using it as a vehicle to develop
an integrated delivery model that fully capitalises on Aker Solutions' broad
portfolio of oilfield products, systems and services, in order to create new
business opportunities. This ability to bundle technology and expertise has
proven to be a competitive advantage when bidding for this contract. It will
involve deliveries from our oilfield service arm, engineering, drilling
technologies, subsea and well intervention services," says Øyvind Eriksen,
executive chairman, Aker Solutions.
"The Norwegian continental shelf is recognised world-wide for its high recovery
rates. With the Cat-B initiative, Statoil and their partners is taking a quantum
leap by taking a fully integrated approach to increasing recovery rates from
subsea wells. We are pleased to support Statoil in the development of this new
technology and innovative business model," adds Eriksen.
The Category B (Cat-B) rig is a semi-submersible unit designed for year-round
well intervention. It will provide a full range of heavy well intervention and
light drilling tasks including through-tubing rotary drilling, wireline, coil
tubing, high pressure pumping, well testing and cementing services as well as
ROV operations. It will operate in water depths up to 500 metres.
Well intervention services are carried out in an oil or gas well, with the
objective of maximising production and increasing the recovery rate of oil and
gas. Well intervention has traditionally been performed from fixed platforms. In
more recent years, specially equipped ships or rigs have been developed to
undertake the same type of service on subsea wells where recovery rates have
been much lower.
The subsea well intervention system - i.e. the infrastructure between the rig
and the seabed - is based on the technology solutions developed for Aker
Oilfield Services' deepwater well intervention vessel Skandi Aker. This is, as
on Skandi Aker, a riser-based intervention system consisting of a high-pressure
riser and well control package, which is connected to a subsea tree to secure
safe entry into subsea wells.
A game-changer
"From the outset our ambition was to develop a subsea well intervention solution
that would become a game-changer in the market. To win this contract is a great
reward for all the hard work and investments we have put into the concept," says
Karl Erik Kjelstad, president of Aker Oilfield Services and head of the Oilfield
Services and Marine Assets (OMA) business area in Aker Solutions.
"The award confirms our business model, and will pave the way for a long-term
development for this part of our business," Kjelstad adds. In addition to the
new Cat-B rig, Aker Oilfield Services' fleet include the deepwater well
intervention vessel Skandi Aker, the deepwater intervention vessel Skandi Santos
and the subsea construction vessel Aker Wayfarer. In addition to Statoil, the
company currently works with Petrobras and Total, which also are among the
world's leading operators of deepwater fields.
Skandi Aker is primarily equipped to perform well intervention operations
between 800 and 3 000 metres water depth. Similar equipment may be installed on
Aker Wayfarer at a later stage. Other light well intervention vessels operate
mainly up to 800 metres water depth. The new Cat-B intervention rig will have a
significantly larger operating window than other existing units - an important
factor in the harsh environment on the Norwegian continental shelf.
Tailor-made and efficient
"Together with Statoil and their partners we are effectively filling the gap
between conventional drilling rigs and light well intervention units. By
providing a rig that is tailor-made for intervention purposes, including
integrated service lines, we expect significant cost reduction for well
intervention operations," says Kjelstad.
The contract will be managed out of Aker Oilfield Services' offices at Skøyen,
Oslo. The riser and well control package will be supplied by Aker Solutions'
subsea technology and manufacturing centre at Tranby in Lier, Norway. Aker
Solutions will also supply the conveyance equipment and intervention services
including coil tubing and wireline - a market segment where the company is the
market leader on the Norwegian continental shelf - through its well service
business that operates out of Stavanger, Norway. Aker Solutions will also
provide the facilities to enable a third party contractor to supply cementing
services, which Statoil will manage under a separate contract.
The EPC contract to build the Cat-B rig is currently under negotiation with
reputable yards. The rig's derrick and handling system will be provided as a
subcontract to the chosen rig yard by Aker Solutions' drilling technologies
business managed from Kristiansand, Norway.
Aker Solutions already has access to the necessary funding, but is also
considering various options for asset financing of this investment.
The Cat-B intervention rig is expected to start operations in the second half of
2015.
Contract party for the agreement is Aker Oilfield Services AS, which is a
wholly-owned subsidiary of Aker Solutions.
ENDS
For further information, please contact:
Media:
Endre Johansen, VP Corporate Communications, Aker Solutions. Tel:
+47 22 94 58 91, Mob: +47 41 61 06 05, E-mail: endre.johansen(at)akersolutions.com
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions ASA. Tel:
+47 67 51 30 39, Mob: +47 911 37 194, E-mail: lasse.torkildsen(at)akersolutions.com
Suppliers:
For further information about sourcing and potential subcontracts for this
project, please visit www.akersolutions.com/suppliers
Career opportunities:
Visit http://www.akersolutions.com/careers
Aker Solutions provides oilfield products, systems and services for customers in
the oil and gas industry world-wide. The company's knowledge and technologies
span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas
drilling, field development and production. The company employs approximately
23 500 people in more than 30 countries. They apply the knowledge and create and
use technologies that deliver their customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a
number of separate legal entities. Aker Solutions is used as the common brand
and trademark for most of these entities. In 2011 Aker Solutions had aggregated
annual revenues of approximately NOK 36.5 billion. The company is listed on the
Oslo Stock Exchange.
This press release may include forward-looking information or statements and is
subject to our disclaimer, see www.akersolutions.com.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aker Solutions ASA via Thomson Reuters ONE
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Datum: 17.04.2012 - 08:01 Uhr
Sprache: Deutsch
News-ID 135608
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"Aker Solutions to provide Cat-B well intervention services to Statoil"
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