Aker Lands Kristin Work

A contract worth approximately NOK 5 billion to build the topsides for Statoil's Kristin platform has been awarded to Aker Stord near Bergen. This is the first major job placed for the gas and condensate development, which will act as a new field center in the Norwegian Sea.

Krisitin is being developed with a floating production platform tied to 12 subsea wells. Aker has been awarded an engineering, procurement, construction and hook-up (EPCH) contract covering design and fabrication of the deck, process facilities and utilities, and all module hook-up. The contract includes various incentives relating to health, safety and the environment, quality and weight.

Construction at the Stord yard is due to begin in January next year. "We chose Aker Stord after an overall assessment of the various tenders," reports Nina Udnes Tronstad, operations vice president for Kristin. Orders are due to be placed during the coming spring and summer for the field's subsea production systems, living quarters and steel platform hull. As well as some contracts for the drilling rig as well as drilling and well services.

Overall investment in the Kristin development has been put at NOK 17 billion, with production scheduled to begin on October 1, 2005. The field is due to deliver roughly 35 billion cubic meters of lean gas until 2016. Its estimated output of condensate (light oil) is just under 220 million barrels, and it should yield 8.5 million tons of natural gas liquids. Ms Tronstad says that the existing unitization deal on Halten Bank West will make Kristin an important base for an integrated exploration strategy and development plan covering a wider area.