Statoil awarded Aker Solutions a 10-year framework contract worth approximately US$105.8 million (NOK 650 million) for the North Sea Johan Sverdrup field. The first call-off is the front-end engineering design (FEED) work of the field center, Statoil announced.
The contract also includes an engineering services, procurement and management assistance (EPma) option for the first phase of development, and additional options for later phases.
“The contract for FEED is the key in securing optimal development of the field and maturing a concept for final investment decision by the partners,” said Øystein Michelsen, Statoil’s executive vice president for development and production in Norway.
Statoil, Lundin Petroleum and Det Norske were due to make a decision about the field’s development by the end of 2013, however it was announced early Friday that the decision will be delayed until 2014. Despite this, the partners said the project is still on track to meet regulatory approval in 2015.
The Johan Sverdrup field is located in 110m water depth, on the southern Utsira High area in the North Sea. It is estimated to hold between 1.8 billion and 2.9 billion bbls of oil equivalent, and is expected to be in production through 2050.
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