Technip Wins 'Major' North Sea Contract from Marathon

Technip announced Wednesday that it has won a "major contract" for the development of the Bøyla field in the Norwegian North Sea.

The $381 million (EUR 300 million) deal with Marathon Oil Norge covers all activities necessary to complete the construction of the subsea system for the field development and connect it to the existing Alvheim subsea facilities.
Technip's operating center in Oslo, Norway, will be in charge of the contract. Offshore construction will take place in 2014 and will involve several vessels from Technip's fleet, including the Deep Energy and the Skandi Arctic.
The Bøyla field is estimated to hold reserves of 23 million barrels of oil equivalent. It is located in block 24/9 in the Norwegian sector of the North Sea approximately 17 miles (28 kilometers) south of the Alvheim field, and is covered by the PL 340 license (awarded in 2004).
Marathon is operator of the license, with a 65-percent interest. Sweden's Lundin Petroleum and ConocoPhilips Skandinavia hold 15 percent and 20 percent respectively.
Earlier this month, the partners in the Bøyla field submitted their plan for its development and operation to the Norwegian Ministry of Petroleum and Energy.
The field is to be developed as a subsea tie-back to the Alvheim floating, production storage and offloading vessel (FPSO), with two production wells and a water injection well being drilled.
The total investment in developing the field is estimated at $867 million.


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