(STO) Statoil ASA Awards $380M Contract

Norwegian energy giant Statoil ASA (STO) awarded a contract to an oilfield services firm Subsea 7 for the development of the Aasta Hansteen gas field in the northern part of Norwegian Sea. The contract is valued at US$380 million and involves the design, coating, fabrication and installation of 19 kilometer of rigid flowlines. Subsea 7 is also responsible for the coating, fabrication and installation of four Steel Catenary Risers (SCRs). The deal also covers the engineering, procurement, installation and commissioning (EPIC) of rigid spools and monitoring systems for the risers, and protection structures and anchors for the risers, flowlines and the Aasta Hansteer Spar. It also comprises fixing up of the mooring system and transportation of the Spar buoy. Statoil is the operator of the Aasta Hansteen field and its