DeepWell has secured a long-term contract for provision of mechanical wireline services to Statoil. The contract value for the firm period, including options for add-on services, is estimated to exceed US$119 million (NOK 1 billion) over a four-year period, or more than $237 million (NOK 2 billion), if optional periods are included.
The contract covers provision of mechanical wireline services for 10 fixed installations (Gullfaks (A, B & C) Statfjord (A, B & C), Snorre (A & B) and Sleipner (A & Vest) and 11 mobile drilling units.
The contract has a fixed term of four years plus three two-year extension options, for a potential contract period of 10 years. Additional optional scope under the contract includes logging and other conveyance services.
DeepWell is committed to support Statoil in achieving increased efficiency and reduced overall cost, the company said.
DeepWell’s existing contract with Statoil dates back to 2009. The new contract secures activity and a more predictable future for DeepWell and its employees for the next decade.
“The award is seen as proof of DeepWell’s strong operational performance under the existing contract with Statoil and its competitive position in the market,” DeepWell CEO Martha Kold Bakkevig said.
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