Kristin M&M goes to Norway
Integrated modifications and maintenance (M&M) work on Statoil’s Kristin field is to be carried out by Norway’s Aker Reinertsen under a contract worth some NOK 80 million, excluding options.
Statoil has awarded this job on the Norwegian Sea development by exercising an option in an existing M&M contract for the Halten/Nordland area of Norway’s continental shelf.
Placed in 2002, the latter deal runs until the spring of 2007 and includes three options for two-year extensions.
The Kristin part of this contract represents an estimated 75,000 hours per year, and will come into effect when the field begins production on 1 October 2005.
Integrating M&M work for Halten/Nordland offers Statoil substantial gains, and these are expected to increase from the inclusion of Kristin in the area deal.