Statoil awards NOK 8bn for oil platform

Posted at February 25, 2015 » By : » Categories : News » Comments Off on Statoil awards NOK 8bn for oil platform

Statoil awards NOK 8bn for oil platform

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Statoil has awarded a contract worth NOK 8 billion (£0.7bn) to build an offshore drilling platform.

Aibel won the contract which includes engineering work, procurement and construction for the Johan Sverdrup field.

The region has recoverable resources of 1.7 and 3 billion barrels of oil equivalent, according to Statoil.

The field will account for roughly 40% of the total oil production on the Norwegian continental shelf, it added.

Arne Sigve Nylund, Vice President of Development and Production Norway of Statoil said: “The Johan Sverdrup field is one of the biggest discoveries on the Norwegian continental shelf that will, for its entire lifetime, be a pillar for Norwegian industry and value creation for the Norwegian society.”

The field is scheduled to start up in late 2019.

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