Aker Solutions secures extended well service agreement with Statoil

Thu Nov 1, 2012 3:01am EDT

* Reuters is not responsible for the content in this press release.

1 November 2012 - Statoil has exercised a two-year contract option with Aker Solutions for provision of mechanical wireline services on Statoil operated fields and mobile drilling units on the Norwegian continental shelf.

Aker Solutions secures extended well service agreement with StatoilThe initial three-year contract period started in 2009. Statoil has now exercised the first of two potential two-year contract options.

Aker Solutions estimates that the two-year contract extension will generate revenues of between NOK 700-800 million.

The contract will occupy around 400 employees, of which approximately 60 per cent will be supporting Statoil offshore. Aker Solutions will manage the agreement from its well service hub at Forus, Stavanger, Norway.

"Our cooperation with Statoil within the mechanical wireline segment dates back to 1984. This partnership has helped build up and continuously develop a highly competent well service community on the Norwegian continental shelf. Statoil has the world's highest recovery rates for offshore oil and gas assets and we are proud to be a supplier to their success," says Rolf Leknes, head of Aker Solutions' Scandinavian well intervention services business.
 
The contract comprises mechanical wireline services on the following Statoil operated fields: Heidrun; Njord A; Brage; Grane; Gullfaks A, B and C; Heimdal; Huldra; Kvitebjørn; Oseberg B, C, East and West; Troll A; Veslefrikk; Visund A; and Volve. The contract also covers mechanical wireline work on the majority of the mobile drilling units Statoil will utilise at its subsea fields in the North Sea, including Gullfaks satellites, Heidrun satellites, Hyme, Kristin, Mikkel, Norne, Oseberg, Tune, Snorre UPA, Snøhvit, Statfjord satellites, Tordis, Troll, Vega, Vigdis, Visund, Yttergryta and Åsgard. Additionally, Aker Solutions will deliver onshore operational support to Statoil's field centres at Stavanger, Bergen, Stjørdal and Harstad.

"Working with Statoil means that we are required to invest energy, competence and money into technology that enables smarter and more cost-effective ways of delivering our services. To extend this cooperation effectively means that we are able to continuously improve our service offering, while Statoil is the end-beneficiary through improved operational performance and oil recovery rates. We are delighted to continue supplying mechanical wireline services to Statoil," says Wolfgang Puennel, head of well intervention services in Aker Solutions.

Well intervention services are carried out in an oil or gas well, with the objective of maximising production and increasing the recovery rate of oil and gas.

Aker Solutions' contract party is Stavanger-based Aker Well Service AS.

ENDS

For further information, please contact:

Media:
Endre Johansen, VP Corporate Communications, Aker Solutions. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akersolutions.com

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194.

Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers

Career opportunities:
Visit http://www.akersolutions.com/careers

Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.

Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 25 000 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their customers' solutions.

Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange.

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.





This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Aker Solutions ASA via Thomson Reuters ONE

HUG#1654073
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.