Aibel Secures Statoil Njord Bravo FSU Contract

Aibel announced Thursday that it has secured a contract from Statoil for the refurbishment and lifetime extension of the Njord Bravo Floating Storage Unit (FSU).

The fabrication contract, which holds an estimated value of approximately $167 million (NOK 1.3 billion) according to Aibel, will be managed from Aibel’s Haugesund base under the portfolio of modifications & yard services. 

Preparatory work will start immediately, with the FSU expected to arrive Aibel’s yard in Haugesund at the beginning of July. At peak, the project will engage up to 600 employees. The Njord Bravo FSU is scheduled to be delivered in the spring of 2020.

“This is a substantial contract for Aibel, and it confirms our leading position within large modification assignments on Norwegian continental shelf,” Aibel CEO Mads Andersen said in a company statement.

Partners at the Njord field are DEA Norge AS (50 percent), Neptun Energy (20 percent), Statoil P. ASA (20 percent), Faroe Petroleum Norge (7.5 percent) and VNG Norge (2.5 percent).


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