Worth NOK 600 million, this change means that Island Frontier--originally due to be replaced next year April by newbuilding Island Wellserver--will continue under the contract in 2008-09.
"Cost-efficient use of LWI will give major savings," said Tim Dodson, acting executive vice president for Exploration & Production Norway (UPN). "This method is an important instrument for achieving our production goal for the Norwegian continental shelf and the target of a 55% recovery factor on subsea-produced fields."
Island Frontier and Island Wellserver are due to provide services in parallel on Statoil-operated licenses in the Tampen area of the North Sea and Halten/Nordland in the Norwegian Sea.
LWI is a wireline-based system for workovers in subsea-completed wells, and represents an important tool for Statoil in improving recovery from subsea wells. Unlike well intervention from a drilling rig, LWI does not require installation of a riser. A ship is also much easier to move than a moored rig.
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