VNG hands out Pil & Bue contract to Reinertsen
- Business & Finance
Norwegian exploration and production company VNG Norge has signed a five-year frame agreement with a provider of oilfield services, Reinertsen, in relation to the Pil & Bue project located in the Norwegian Sea.
The contract with Reinertsen is for an owner’s engineering services (OES). The value of the deal is determined by the final concept and is therefore not determined at this time.
According to VNG, the contractor will provide necessary technical expertise and resources required to secure handling of VNG Norge’s technical responsibilities as development operator towards the Front End Engineering Design (FEED) phase and throughout the Pil & Bue project duration.
VNG Norge is the operator of the Pil & Bue discoveries proven in production license 586 in the blocks 6406/11 and 12 in the Norwegian Sea. The exploration campaign was done with the Transocean Arctic drilling rig and it was completed in July 2014.
The operating company submitted a proposed program for impact assessment for development and operation of the Pil & Bue in December 2015, with plans to deliver a development plan in 2017.
VNG’s partners in production license 586 are Spike Exploration, Faroe Petroleum, and Pure E&P Norway with 35%, 25%, and 15% interest, respectively.
Offshore Energy Today Staff