Press

Statoil Awards Kværner the Contract for the Johan Castberg Topsides


 

The contract includes the construction and installation of the topside structure for the floating production, storage and offloading vessel (FPSO) to be located on the Johan Castberg field in the Barents Sea. The contract has a total value of about NOK 3.8 billion. The development work will take place at several yards along the Norwegian coast.

“This is one of the large pieces of the Johan Castberg puzzle, and is a key component of the FPSO. The contract includes building a total of ten modules, a flare boom and central pipe rack. The international competition for the contract has been tough, and we look forward to working closely with Kværner in the years to come. Norwegian suppliers have again demonstrated their competitiveness,” says Torger Rød, Statoil's senior vice president for project management control. 

Work along the coast 

Kværner will utilise a number of yards along the Norwegian coast for the construction work. Yards in Sandnessjøen, Verdal, Stord and Egersund will all be used. 

The construction work is scheduled to last until 2021, followed by a complex assembly period. In this period the topside structure will be installed on the hull and connected to the turret. First oil from the field is scheduled for the first half of 2022.

“The Johan Castberg development will generate substantial spinoffs for Norwegian supply industry in the years ahead. The field is also essential to the further development of industry in Northern Norway, and we are pleased that this contract will help increase activities in the north,” says Pål Eitrheim, Statoil's chief procurement officer.

Johan Castberg will be the sixth project on stream in Northern Norway. The field has been important to the further development of the oil and gas industry in the north. Thanks to Johan Castberg infrastructure will be developed in a new area of the NCS.

Capital expenditures for the Johan Castberg project are estimated at some NOK 49 billion (capex numbers in nominal terms based on fixed currency) and the jobs generated nationwide during the development are estimated at slightly less than 47,000 man-years.

The field will be producing for more than 30 years, and substantial spinoffs will be generated in the long production phase. Castberg will create considerable activities for Norwegian supply companies and generate ripple effects in Northern Norway.  Recoverable resources are estimated at 450 – 650 million barrels of oil equivalent.

Statoil sanctioned projects worth NOK  90 billion in 2017 on the NCS. Norwegian suppliers have secured 70% of the contracts related to these projects so far.

The contact is subject to government approval of the plan for development and operation (PDO).

FACTS

  • The Johan Castberg partnership consists of Statoil (operator 50%) Eni (30%) and Petoro (20%).
  • The field development concept includes a FPSO vessel and extensive subsea development, with a total of 30 wells, 10 subsea templates and two satellite structures.
  • The Johan Castberg development costs are estimated at around NOK 49 billion. The jobs generated nationwide during the development are estimated at slightly less than 47,000 man-years, some 1800 of which will be located in Northern Norway
  • The Johan Castberg project will account for a substantial part of the investment level on the NCS in 2018-2022.


Visit source site

https://statoil.com/en/news/kvaerner-contract-joha...

StatoilContractKvaernerFPSOBarents SeaNorwayJohan CastbergNCSOffshoreNorwegian Continental Shelf

More items from oilvoice


China Becomes World’s Second Largest LNG Importer, Behind Japan

Source: GIIGNL LNG reports (2010-16), Global Trade Tracker export-import trade statistics (2017), and IHS Markit China surpassed South Korea to become the world's second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS Markit and official Chinese government s ...

OilVoice Press - OilVoice


Posted 1 day agoOpinion > EIAEnergy Information Administration EIAChina +5

Investment of $97bn on Top Ten Offshore Oil Projects to Add Over 1.6 Million Barrels Per Day by 2025, Says GlobalData

Over $151.5bn in capital expenditure will be spent over the lifetime of the top ten offshore oil projects to produce 14.3 billion barrels of crude, according to GlobalData , a leading data and analytics company. These ten projects, selected from 236 upcoming offshore projects globally, will contr ...

OilVoice Press - OilVoice


Posted 1 day agoPress > GlobalDataOffshoreOil +2

Norway Leading the Oilfield Service Comeback

In 2015 and 2016 we saw record low levels of offshore volumes sanctioned, which effectively is hurting oilfield service companies' backlog. With the cost cuts E&P players made during the downturn, coupled with the recent increase in oil prices, we now see a lot of offshore projects on a global lev ...

OilVoice Press - OilVoice


Posted 1 day agoOpinion > NorwayRystad EnergyOffshore +3

S&P Global Platts Deploys Blockchain for Collation of Fujairah Oil Inventory Data

S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, has announced that it is deploying a proprietary, secure Blockchain network to allow market participants to submit weekly inventory oil storage data to Fujairah Oil Indust ...

OilVoice Press - OilVoice


Posted 2 days agoOpinion > S&P Global PlattsBlockchainFujairah +2

Westwood Highlights Exploration Hits & Misses of 2017

  A new report from Westwood Global Energy Group shows better oil and gas exploration performance in 2017 than 2016 with discovered volumes, success rates and finding costs all improving. High impact oil & gas exploration remains challenged, however, with activity levels ...

OilVoice Press - OilVoice


Posted 2 days agoPress > westwood global energy groupexplorationMexico +1
All posts from oilvoice