FMC Technologies to Supply Subsea Systems for Statoil’s Gullfaks South (Norway)

The U.S. based FMC Technologies, Inc. announced today that it has signed an agreement with Statoil for the manufacture and supply of subsea production equipment to support the Gullfaks South field development. The contract has an estimated value of $200 million in revenue to FMC Technologies.

Gullfaks South field located in the Norwegian part of the North Sea will be developed as a fast-track project in blocks 34/10 and 33/12 in the North Sea, in water depths between 425 and 720 feet (130-220 meters). FMC’s scope of supply includes seven subsea production trees, seven wellhead systems, two integrated protection structures with manifolds, and additional controls and equipment. The systems will be supplied from the Company’s operations in Norway and Scotland with deliveries scheduled to begin in the second quarter of 2013.

“Statoil has made significant technology investments for Gullfaks, which is Europe’s largest fixed-platform subsea tie-back development,” said Tore Halvorsen, FMC’s Senior Vice President, Subsea Technologies. “We are pleased to continue supporting their efforts to increase recovery and extend the life of this important field.”

“What is special about this contract is that the technical requirements will be frozen for a two-year period to form a standard catalogue for subsea production systems”, says head of technology excellence in Statoil, Siri Espedal Kindem.

“Statoil has been working closely with the supplier industry to develop standard equipment for the fast-track field development portfolio. This means that we can build equipment quickly and develop marginal fields more efficiently.”

Statoil has set new requirements enabling the same systems to be used regardless of which supplier is chosen to deliver the seabed infrastructure. This will provide simplified logistics and standardised equipment to improve the efficiency of the operations.

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Offshore Energy Today, July 5, 2012