Deepwater well intervention award for Aker Solutions
Deepwater well intervention award for Aker Solutions
25 July 2012 - Aker Solutions' subsidiary Aker Oilfield Services has received a
contract from Total E&P Angola for providing subsea intervention services from
the oil services company's purpose-built intervention vessel, Skandi Aker. The
agreement marks a breakthrough for vessel-based intervention services in deep
and ultra-deep waters.
The agreement is valid for a period of two (2) years plus options for three
further one-year (1+1+1) periods. The firm two-year part of the contract has an
aggregated value of approximately USD 250 million. Start-up of operations is
planned to take place offshore Angola in Q1 2013.
Skandi Aker is the first well service vessel of its kind capable of performing
riser-based subsea well intervention in deep and ultra-deep waters.
Traditionally subsea well intervention has been performed from drilling rigs.
But the rigs' high day rates have made such operations very expensive, while rig
availability has been limited. The increasing water depths also mean that it has
been necessary to develop alternative technology and more cost effective systems
to access deepwater wells.
"Skandi Aker is able to perform deepwater well intervention services that oil
companies previously needed drilling rigs to conduct. More importantly we do it
quicker andÂ more cost effectively, which will increase the frequency of
intervention operations and enable our customers' subsea wells to produce more
oil and gas," says Karl Erik Kjelstad, president of Aker Oilfield Services and
head of the Oilfield Services & Marine Assets (OMA) business area in Aker
"We are thrilled with this award and to be able to deliver on our vision of
developing a cost effective technology for intervention activities at deepwater
subsea fields. We are humble about the trust placed in us by Total E&P Angola
and their license partners, and look forward to deliver high quality services
with the ultimate aim of increasing oil recovery ratios," adds Kjelstad.
Under the contract Skandi Aker will perform subsea intervention activities
* Well re-entry for testing operations
* Well re-entry for interventions using wireline, coil tubing and well
* Running/lifting subsea trees with cable or work-over riser
* Suspension or plug and abandonment of wells
Provision of the downhole well services, well test services and ROV services
will be provided through separate contracts, outside Aker Solutions' scope of
services for Total E&P Angola.
"In recent years we have made significant investments in developing capabilities
for vessel-based subsea intervention activities - both with regards to suitable
deepwater technologies and services. We are pleased to see that these
investments continue to materialise into contracts," adds Karl Erik Kjelstad.
Aker Oilfield Services has built up significant resources for subsea
intervention and subsea well intervention work. In addition to Skandi Aker,
Skandi Santos has since March 2010 been operating very successfully on a 5+ year
contract performing subsea intervention work offshore Brazil. Further, In April
2012 the company was awarded a long-term agreement with Statoil to provide a
full range of heavy well intervention and light drilling services on the
Norwegian continental shelf. The contract period is for eight years, with
options for three further two-year periods (2+2+2). Work will be performed from
a new build Category B well intervention rig owned and operated by Aker Oilfield
For further information, please contact:
Endre Johansen, VP Communications, Aker Solutions ASA. Tel: +47 22 94 58 91,
Mob: +47 416 10 605.
Lasse Torkildsen, SVP Investor Relations, Aker Solutions ASA. Tel:
+47 67 51 30 39, Mob: +47 911 37 194.
For further information about sourcing and potential subcontracts for this
project, please visit www.akersolutions.com/suppliers
Aker Solutions provides oilfield products, systems and services for customers in
the oil and gas industry world-wide. The company's knowledge and technologies
span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas
drilling, field development and production. The company employs approximately
25 000 people in more than 30 countries. They apply the knowledge and create and
use technologies that deliver their customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a
number of separate legal entities. Aker Solutions is used as the common brand
and trademark for most of these entities. In 2011 Aker Solutions had aggregated
annual revenues of approximately NOK 36.5 billion. The company is listed on the
Oslo Stock Exchange.
This press release may include forward-looking information or statements and is
subject to our disclaimer, see www.akersolutions.com.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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Source: Aker Solutions ASA via Thomson Reuters ONE