Contractors Unlimited

Subsea Workover System Award to Aker Solutions

Aker Solutions



Aker Solutions has been awarded a letter of intent (LOI) from Statoil for the engineering, procurement and construction of a subsea workover system for the Vigdis North East development on the Norwegian Continental Shelf. Aker Solutions estimates that the contract value will be approximately NOK 500 million.

The scope of work includes a complete suite of components for open water workover operations. The Vigdis North East workover system will perform normal start up operations for field development.

Workover equipment is used on every subsea well, for installing equipment and preparing the well for production. During field life, workover equipment is used during the maintenance of subsea wells to improve oil recovery.

"We are very pleased to be awarded this LOI from Statoil for a new standardised workover system. This award will propel Aker Solutions into pioneering workover operations not only on our own equipment, but also towards third parties. Our equipment enables higher efficiency and lower costs, resulting in more wells being drilled and completed," says Mads Andersen, executive vice president of Aker Solutions' subsea business area.

The Vigdis North East workover system project will be managed at Aker Solutions' Tranby Technology and Manufacturing Center in Norway. The manufacturing of the well control package and riser elements will be completed in Tranby and the control systems out of Aberdeen. Final deliveries will be made in June 2012.

Vigdis North East is a fast-track oil and gas development located in water depths of approximately 280 meters in the Norwegian sector of the North Sea.

Aker Solutions' contract party is Aker Subsea AS.

Published 11/02/2011

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Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 54 billion and employs approximately 22 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.

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