PRESS RELEASE
March 21, 2018

Statoil ASA has awarded Ocean Installer a substantial contract for marine operations on the Askeladd project in the Barents Sea.

The Askeladd field will be developed with three wells via two new subsea templates that have space for additional wells in the future. In addition, infrastructure will be installed to tie-in the Askeladd development to the existing Snøhvit field facilities. Askeladd is located 35 km South-West of the Snøhvit field and 175 km from the LNG plant at Melkøya. The water depth is approximately 240 -330 m. The contract is significant in size and will further increase Ocean Installer’s operations in the Barents Sea.

“Following our recent awards from Statoil, Ocean Installer is proud to be awarded this important project as well. The Askeladd award, together with the earlier Johan Castberg Award, will give us specific and unique experience in the far north region, which is expected to be a major growth area in coming years,” says Ocean Installer CEO Steinar Riise.

“By awarding this project to Ocean Installer, Statoil recognizes Ocean Installer’s capabilities and continued focus on safety and quality in its execution of projects. Ocean Installer’s backlog portfolio towards Statoil is now significant,” continues Riise.

Ocean Installer will be involved with Askeladd throughout the entire development phase, until the field is hooked up to Snøhvit in 2020, with offshore operations planned for the summer seasons of 2019 and 2020.

The project will be managed from Ocean Installer’s Stavanger office and will start immediately.

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About Ocean Installer
Ocean Installer is a subsea company headquartered in Stavanger, Norway with strong EPCI expertise within the SURF (Subsea, Umbilicals, Risers, Flowlines) segment.

Ocean Installer provides its clients with recognised first-rate assets and has in place long-term charters on the advanced construction support vessel (CSV) Normand Vision. In addition, the company has access to a broad range of additional vessels through long-term partnerships.

Ocean Installer is majority-owned by HitecVision, a leading investor in the oil and gas industry.

Ocean Installer holds FPAL- and Achilles certifications, with systems established in accordance with the requirements set out in ISO 9001, 14001, 18001 and 31 000 standards.

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Ocean Installer is a Norwegian subsea contractor with a global horizon that delivers full EPCI (Engineering, Procurement, Construction and Installation) services within the area of marine and subsea operations.

Quality, efficiency and safety are at the heart of everything we do and we are continuously investing in and developing our assets and expertise.
HEAD QUARTER
Stavanger, Norway
Ocean Installer AS
Forusparken 2
P.O. Box 8070
N-4068 Stavanger