Lundin picks TechnipFMC to deliver subsea equipment for North Sea project
- Business & Finance
Oilfield services provider TechnipFMC has been awarded a substantial integrated engineering, procurement, construction and installation (iEPCITM) contract from Lundin Norway for the Luno II and Rolvsnes development, located in the North Sea at a water depth of 110 meters.
For TechnipFMC, a substantial contract ranges between $250 million and $500 million.
The company said on Wednesday that the contract covers the delivery and installation of subsea equipment including umbilicals, rigid flowlines, flexible jumpers, and subsea production systems.
Arnaud Piéton, President Subsea at TechnipFMC, commented: “We are honored that Lundin Norway is embracing our innovative and comprehensive solutions, engaging with us early through iFEEDTM (integrated FEED) studies and realizing the full scope through an integrated EPCI, finding within TechnipFMC all the architects, the competencies, the equipment and services necessary to support this project.”
Rolvsnes is located 3 km south of the Lundin Norway-operated Edvard Grieg platform on the Utsira High and has a gross estimated resource range of between 14 and 78 million barrels of oil equivalent (MMboe).
Subsea tie-back to Edvard Grieg
It is worth mentioning that Lundin recently signed a deal to buy Lime Petroleum’s acreage in the Rolvsnes discovery and Goddo prospect for up to $45 million. The agreement will see Lundin increase its working interest in the Rolvsnes oil discovery in PL338C and in the recently awarded, nearby license PL338E1 from 50 to 80 percent and the Goddo prospect in PL815 from 40 to 60 percent.
During 2019, Lundin plans to conduct an extended well test (EWT) at the Rolvsnes discovery via a subsea tie-back of the suspended appraisal well to the Edvard Grieg platform. It is expected that the extended well test will be sanctioned in the first quarter of 2019 and implementation will be in parallel with the Luno II development project. EWT first oil is planned for 2021.
When it comes to Luno II, back in October 2018, Lundin entered into an agreement with Equinor to acquire Equinor’s entire 15 percent working interest in the license PL359, containing the Luno II oil discovery.
Luno II is situated approximately 15 km south of the Edvard Grieg platform and has a gross resource range of between 40 and 100 million barrels of oil equivalent (MMboe). The development concept for Luno II is a subsea tie back to the Edvard Grieg platform and the objective is to submit a plan for development and sanction the project in early 2019. First oil is planned for early 2021.
Offshore Energy Today Staff