The FINANCIAL -- In connection with the
development of the world’s first seabed gas compression facility on the
Åsgard field, Technip Norway has been awarded the contract for the
marine operations of the project.
The contract is valued at NOK 1,2 billion.Åsgard seabed gas compression is expected to increase recovery from Mikkel and Midgard by roughly NOK 278 million barrels of oil equivalents.
According to Statoil, the contract for marine operations is one of several major contracts awarded in connection with the decision to adopt new technology in order to increase recovery and maintain production on the Åsgard field in the Norwegian Sea.Åsgard, which is a central hub on Haltenbanken and a significant oil and gas producer in the Norwegian Sea, is the first field in the world to start using seabed gas compression.
The contract for marine operations includes the installation of control and power umbilicals, structures, diverless tie-ins and connection to existing subsea infrastructure. The marine operations on the Åsgard field will be carried out in the course of 2013 and 2014.
The contract will account for approximately 50 jobs for Technip in Oslo and Stavanger over a three-year period. The contract also involves manufacturing requirements that will entail the potential for significant deliveries by sub-contractors.Increasing volumes
It was in 2011 that Statoil and its partners on Åsgard decided to go in for seabed gas compression in order to recover the large volumes still remaining in the field. Åsgard seabed gas compression will start up in 2015 and have an investment frame of approximately NOK 15 billion. This technology is one of the most important measures taken by Statoil in order to maintain and increase recovery from existing NCS fields.
Seabed compression can increase recovery on several small and medium size fields in future. Statoil is currently engaged on three such projects. Seabed compression is the chosen concept for Åsgard and Gullfaks. Statoil is also working together with the operator, Shell, on a similar solution for Ormen Lange.
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