A/S Norske Shell and Ocean Installer sign letter of intent to award a significant contract
Published:
Mar 31, 2012
PRESS RELEASE
31st March 2012
The Norwegian subsea entrepreneur Ocean Installer and A/S Norske Shell signed 30.03.12 a Letter of Intent to award an important contract. The contract covers EPCI (Engineering, Procurement, Construction, Installation) services in the context of A/S Norske Shell’s further development of the Draugen field. The contract value is in the area of NOK 800-900 million.
– We are extremely pleased to have signed this Letter of Intent, and are very much looking forward to working with A/S Norske Shell, which is an important client to us. Ocean Installer was established a little more than a year ago, by people with extensive experience and solid competencies in the area of subsea construction, engineering and services. We are moving according to plan and over the last year we have put in place a full-blown subsea organisation, with particular competencies in the area of SURF (Subsea, Umbilicals, Risers, Flowlines) operations, says Steinar Riise, CEO of Ocean Installer.
The contract covers further development of the subsea infrastructure of the Draugen field, in the context of A/S Norske Shell drilling four infill wells for the purpose of increasing the ultimate recovery factor and accelerating oil production at the field. Ocean Installer will be responsible for all phases of the operation, from planning and engineering to installation and establishment of connections. This includes procurement and installation of approximately 18,5km oil production and gas lift flexible flowlines and jumpers including pull-in to the Draugen Platform, installation of approximately 21km umbilicals including pull-in to the Draugen Platform, procurement and installation of a T-manifold and protection covers, supply of rock dump, and detailed engineering.
The project is foreseen to start up with immediate effect and is planned completed in 2014. Ocean Installer will execute project management and engineering from its headquarter in Stavanger, Norway, whilst the majority of the offshore work will take place making use of the advanced offshore construction vessels Normand Clipper and Normand Mermaid. Ocean Installer will operate with a project team of approximately 30 persons, whilst the total amount of vessel days will amount to approximately 250.
– This contract is a major achievement for us. It confirms that we are doing things right and it establishes us as a tier one player in the subsea construction market. We give chief importance to tailor made solutions and close cooperation with clients. We know that speed, timely deliveries and efficient solutions are critically important, thus the ability to deliver and fulfill our clients’ goals in a safe and environmental friendly manner is our main priority. We will document this throughout the execution of this project, says Steinar Riise.
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About Ocean Installer
Ocean Installer is a Norwegian subsea entrepreneur headquartered in Stavanger, Norway. The company, which is a solid subsea entrepreneur in the North Sea basin, is experiencing considerable growth and is expanding further in the international SURF (Subsea, Umbilicals, Risers, Flowlines) market.
