EMAS AMC Secures Ivar Aasen Subsea Job Worth $165 Million
Singapore’s EMAS AMC, has been awarded an engineering, procurement, construction and installation (EPCI) contract, valued at approximately US$165 million, from Norway’s oil company Det norske..
Det norske is a key exploration and drilling operator on the Norwegian Continental Shelf. The contract is for rigid pipe-lay and related subsea work, in the Ivar Aasen field in the Norwegian North Sea.
Lionel Lee, Managing Director and Group CEO of Ezra Holdings, which is a parent company of EMAS AMC, said, “The Ivar Aasen field is one of the largest oil discoveries on the Norwegian Continental Shelf in recent years and we are delighted with this important contract win. This win is the result of our committed strategy to become a leading global subsea construction player and validates our focus on our global subsea operations.”
C J D’Cort, CEO of EMAS AMC, added, “This win is a further result of our continued efforts and commitment to strengthen relationships with some of the key oil and gas players in the North Sea region. I am quietly pleased with this particular project as it is our first significant rigid pipe-lay project in the Norwegian North Sea while it adds to our growing portfolio of EPCI projects globally. ”
The Ivar Aasen field contains approximately 150 million barrels of oil equivalent (boe), and is located some 180 km offshore Stavanger, Norway. The contracted scope of work includes project management, detailed engineering and procurement, construction and installation of three 10 km rigid pipelines via reels, including spools, pipeline end terminations (PLETs) and seabed intervention. The contract also has an option for EMAS AMC to procure and install a subsea power cable connecting the neighbouring Edvard Grieg platform to the Ivar Aasen platform. Project management and engineering work will commence immediately and will be managed from EMAS AMC’s office in Oslo. Offshore activities are scheduled to commence in 2015, with completion in 2016.