"This is an important breakthrough for our deepwater technology ODIM CTCU, and our commitment to the very promising deepwater market," says chief executive Jogeir Romestrand at ODIM ASA.
The contract primarily ensures full financing for ODIM's fabrication and on-field testing of a system with a two-fall configuration, which allows players pursuing demanding deepwater projects to install structures weighing up to 250 tonnes. The system is due for delivery in April 2009.
Since the contract price for developing a 125-tonne lifting system will depend on the scope of necessary additional equipment, the overall cost has yet to be determined. ODIM has previously communicated a price of about NOK 60 million for a 125-tonne system based on the ODIM CTCU.
The JIP now being joined by Aker Oilfield Services is partly funded through Demo 2000. This program has been established by the Research Council of Norway for project-oriented technology development in the petroleum industry. It has proved an important instrument for generating the kind of project involved here. The JIP is also joined by Shell and Statoil.
With fewer large discoveries and more petroleum exploration in deep water, a strong growth in deepwater installation is expected from 2008-09. The ODIM CTCU technology makes it possible to use fiber rope instead of steel wire cables for installation work in deep water, which provides major benefits in terms of weight. That in turn permits the use of smaller and cheaper vessels.
"Our unique handling systems for deep water enhance operational efficiency for Aker Oilfield Services, and fit well with that company's aggressive strategy," says Jogeir Romestrand.
"The steady expansion in demand for deepwater technology means that this project is perfectly timed for us. It will further demonstrate the unique qualities of the ODIM CTCU technology, with the capacity to lift the heaviest subsea modules in the deepest water. ODIM CTCU has proved a very cost-effective solution for developing oil and gas fields in deep water."
"The Demo 2000 project in which Aker Oilfield Services has now decided to participate confirms that the industry embraces the ODIM CTCU technology and its capacity," says Per Ingeberg, president of ODIM Alitec AS and responsible for market and technology development of this solution. "This is a big leap for the installation industry. With a 250-tonne lifting capacity, we're raising ODIM CTCU up a step and into a market with great potential both immediately and in the longer term. The installation market is now seeking systems which can handle modules weighing up to 250 tonnes in water depths of more than 1,500 meters. ODIM CTCU represents the best available solution for such conditions. We see that operators want to secure this core technology in order to have a total solution for the aft deck in the future."
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