Subsea installation specialist Subsea 7 said Friday it had won a "sizeable" contract with Aker BP for the Hanz field development located in the North Sea, offshore Norway. Subsea 7 defines a sizeable contract as being between $50 million and $150 million.
Aker BP has sanctioned the development of the Hanz discovery earlier this week, with plans to tie it into the Ivar Aasen platform about twelve kilometers to the south.
Total reserves at the field are around 20 million barrels of oil equivalent (mmboe). Total investments are estimated at NOK 3.3 billion (~$363 million). The expected start-up is in the first half of 2024.
For Subsea 7, the contract scope includes engineering, procurement, construction and installation (EPCI) of the gas lift and production pipelines, and associated subsea infrastructure, using vessels from Subsea 7’s fleet. The production pipeline is a pipe-in-pipe design.
Project management and engineering will start immediately at Subsea 7’s offices in Stavanger, Norway. Fabrication of the pipelines will take place at Subsea 7’s spool base at Vigra, Norway and offshore operations are expected to be carried out in 2023.
Monica Bjørkmann, Vice President for Subsea 7 Norway said: “This award continues our long-standing collaboration with Aker BP, through the Aker BP Subsea Alliance. The partnership enables Subsea 7 to engage early in the field development process, optimising design solutions and contributing to a positive final investment decision. Subsea 7 looks forward to continuing our alliance with Aker BP for the Hanz field development, with a focus on safe, efficient and reliable operations.”
The Aker BP Subsea Alliance is a partnership between Aker BP, Subsea 7 and Aker Solutions.
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