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Kristin assignment for Kværner

February 7, 2002, 11:45 CET

A letter of intent worth some NOK 1 billion to build the subsea production systems for Statoil’s Kristin field in the Norwegian Sea has been awarded to Kværner Oilfield Products (KOP).

This represents the second major assignment placed for the gas and condensate development, which lies in the Halten Bank area.

Aker Stord has previously been given the job of fabricating the topsides with process plant and utilities for the floating Kristin platform.

In addition, a small engineering contract relating to the pipeline systems has gone to Reinertsen Engineering in Trondheim.

The KOP assignment will be an engineering, procurement and construction (EPC) contract.

It covers the fabrication and assembly of four templates, wellheads with Xmas trees and control systems, umbilicals and associated installation equipment.

The templates are due to be delivered first, for installation in the early summer of 2003 ahead of the start to drilling a little later that year.

Fabrication of these units is scheduled to begin in the autumn of 2002 at the Kværner Egersund yard south of Stavanger.

The template installation job should be awarded this spring, with contracts for the platform living quarters and steel hull set to be placed during the spring and early summer.

Contracts for the drilling rig and for drilling and well services are also due to be awarded.

Overall investment in the Kristin development is put at NOK 17 billion, with production scheduled to start on 1 October 2005.