Akop Lands Huge Alve Contract from Statoil
During the first quarter of this year, several Alve contracts worth around NOK 900 million will be agreed.
The Akop contract covers completion of upgrading work on board the Norne production and storage vessel for tie-in to the wellstream from Alve.
The Alve gas field will be phased in with existing infrastructure on the Statoil-operated Norne field.
"The contract with Akop is the project's biggest," says Sven Erik Mack, procurement manager on the Alve project.
"The scale of the work is relatively comprehensive and will be prioritized and followed closely during the entire project implementation, up to production start-up in 2008."
Earlier, contracts for pipeline engineering have been awarded to Det Norske Veritas (DNV) and to Sumitomo/Japan Steel Works for purchase of tubing.
During the first quarter, contracts will be agreed for subsea production equipment, flexible risers, cables for pipeline heating, marine installations as well as pipeline laying.
All contracts are pending Norwegian Ministry of Petroleum and Energy (MPE) approval of the Alve plan for development and operation (PDO).
The Alve field was proven in 1990 and is a smaller-scale gas and condensate find in production license 159B, around 15 kilometers south-west of the Norne field. The find comprises the Garn, Not, Ile and Tilje formations. The reserves proven lie in the Garn and Not formations.
A maximum gas production of around 4 million cubic meters (scm) of gas per day is expected. Reserves are estimated at 6.78 billion scm of gas and 8.3 million barrels of condensate.
Plans call for drilling to start on 1 August 2007 and production to commence in December 2008.
Statoil has a 75% share in Alve. The other licensees are Danish Oil and Natural Gas (Dong) with 15% and Hydro (10%).
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension