Fabricom Receives $115M Slaipner Field Contract
- Business & Finance
Statoil has awarded Fabricom AS a two-year option agreement for maintenance and modification on the Sleipner field in the Norwegian North Sea, starting August 2014.
The estimated total value of the contract is calculated to 700 MNOK ($115 million).
The option is part of a 2010 framework agreement to provide maintenance and modifications work on the Statoil-operated installations at the Sleipner field. The agreement was for an initial four years period, with extension options for a total of four years.
The extension is from August 2014 to August 2016. The contract includes engineering, procurement, construction and installation (EPCI) modification work and studies.
“We are very pleased with this extension, and see it as recognition of Fabricoms M & M execution ability and a great honor to our team serving Statoil,” says Fabricom CEO Stanley Maas.
The award of the Sleipner extension is an important addition to Fabricom’s current M&M portfolio.
The Sleipner field is located about 250 kilometers west of Stavanger, and is a gas- and condensate field consisting of Sleipner East and West. The field has been developed with the platform Sleipner A on the East field, and Sleipner B on the West field.
Press Release, November 28, 2013