Aker Solutions Secures Johan Sverdrup Phase 2 FEED Contract

Aker Solutions has secured a front-end engineering and design (FEED) contract from Statoil for the second phase of the Johan Sverdrup development offshore Norway.

The FEED work is for a new processing platform and the bridge that will connect it to the development's riser platform. The contract also includes the design of a module and the work to integrate this with the riser platform.

This FEED contract will involve more than 250 Aker Solutions employees in Oslo and Stavanger. It will be delivered in the first quarter of 2018.

"We've worked closely with Statoil on significantly bringing down costs and increasing the overall efficiency of this major development,'' Luis Araujo, chief executive officer of Aker Solutions, said in a company statement.

Johan Sverdrup is estimated to hold 2 billion to 3 billion barrels of oil equivalents. It's expected to produce up to 660,000 barrels of oil equivalents a day when fully developed in 2022, equal to about a quarter of current domestic output.

Production is slated to start in late 2019 and is predicted to last for about 50 years. The first development phase will consist of four platforms linked by bridges.

Statoil is operator for the development, which spans three licenses. Other partners include Lundin Norway, Petoro, Maersk Oil and Aker BP.



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