FMC Technologies Bags $1.48 Bln Subsea Services Deal in Norway

February 27, 2013

Norway’s oil giant today announced it has signed a frame agreement with the U.S.-based oilfield equipment provider, FMC Technologies, for subsea operations services on the Norwegian Continental Shelf (NCS).

The scope of works covers service and maintenance of subsea production systems during installation and operation phases. FMC Technologies shall provide subsea services, including operation, maintenance and modifications.

The potential value of the contracts is NOK 8.5 billion (approximately USD 1.48 billion) for the five-year firm agreement with FMC Technologies.

Statoil today also awarded a similar contract to its compatriots, Aker Solutions, which will immediately execute a subsea refurbishment project for the Troll field, the world’s biggest subsea development with regards to the number of subsea wells. Estimated value of the firm five-year contract with Aker Solutions is NOK 5.5 billion (USD 962 million).

With over 500 subsea wells, Statoil is the largest operator under water on the Norwegian shelf. With an aging subsea park, Statoil is a major customer worldwide with regards to maintenance and overhaul – the so-called aftermarket.

“We see an increasing need for maintenance of wells and subsea systems as part of extending the life of fields offshore. This is a growing market for the supplier industry, and we see a lot of interest for these assignments from suppliers worldwide. We are however pleased to have secured capacity and competence with Aker Solutions and FMC, companies which are international competitive on subsea services” says Jon Arnt Jacobsen, Chief Procurement Officer in Statoil.

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Offshore Energy Today Staff, February 27, 2013