Subsea production system contract for Morvin awarded

October 26, 2009, 13:38 CET

Morvin is a combined oil and gas field on the Halten Bank in the Norwegian Sea. It is located approximately 20 kilometres west of the Åsgard B platform, some 200 kilometres west of mid-Norway. Production start on the Morvin field is planned for 2010.

Morvin is planned to be developed as a subsea tieback to Åsgard B with two subsea production system templates and a total of three production wells.

The Morvin reservoir conditions are approximately similar to the nearby Kristin field, with high pressure and high temperature. The Morvin subsea production system will be based on technology developed for the Kristin field development.

Total estimated contract value for the Morvin subsea production system is approximately NOK 1,000 million. Contract documents are expected to be signed in December 2007, and final delivery for the subsea production system is May 2009.

The contract award is conditional on the governmental approval of the plan for development and operation (PDO) scheduled for submittal in February 2008.

Partners in the Morvin licence group: StatoilHydro (operator) (64%), Eni (30%) and Total (6%).