Two contracts worth around USD 90 million have been awarded to Subsea 7.
These are EPCI contracts, which include engineering, procurement, construction and installation of the pipelines and control cables connecting the PanPandora and Katla fields in the North Sea to existing production systems. The contracts also cover installation of the production system on the seabed. They are the first contracts signed by Statoil for delivery of subsea pipes to the new portfolio of fast-track developments.
“The purpose of fast-track developments is to realise small finds that would generally not be profitable,” says Per Haaland, head of the portfolio of fast-track developments on the Norwegian continental shelf (NCS). “This part of the portfolio helps maintain the production level on the NCS.”
The engineering work starts this month at the supplier’s office in Stavanger. The pipelines will be produced at the spool base on the island of Vigra on the west coast of Norway. Field installation and pipe-laying on the seabed are scheduled for the first half of 2012. Production from PanPandora and Katla is to start later the same year.
“We are signing these contracts earlier than what is normal for traditional project execution,” says Vidar Birkeland, acting head of procurements. “They are important contributions to maintaining the pace of our fast-track projects. Furthermore, Subsea 7 has vessels that are well suited for this work.”
Facts about the Fields and the fast track commitment
Katla
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Source: Statoil , November 14 , 2010