Samsung Heavy Industries Lands Statoil FSU Construction Contract

Statoil said Thursday that it has awarded a construction contract worth $230 million for a floating storage unit (FSU) to Samsung Heavy Industries. 

The FSU – which will be put to work on the Heidrun field in the Norwegian North Sea by 1H 2015 – will be permanently connected to a buoy, and the oil produced from the field will be lifted by use of shuttle tankers. The FSU, said Statoil in a statement, has an expected design life of 30 years.

Under the contract inked, Statoil has options to buy two additional units. 

The Heidrun field – which Statoil expects to maintain production until 2045 – is located on Blocks 650/7 and 650/8 on Haltenbanken in waters 1,148 feet (350 meters) deep. StatoilHydro, which holds a 12.41% interest, operates the oil and gas field; Petoro holds 58.16%; ConocoPhillips holds 24.31%; and Eni Norge holds the remaining 5.12%.

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