Subsea 7 wins more work from StatoilNews // April 2, 2004
The total joint venture value for both contracts is approximately US$25 million.
Asgard Q will be performed in joint venture with Technip Offshore NorgeAS and the scope of work for Subsea 7 entails installation of two 15kmparallel 9in 13% chrome flowlines from Asgard Q to Asgard A. The 13%chrome flowlines will be welded by Technip Offshore Norge at theirfacilities in Orkanger. Subsea 7's pipelay vessel Skandi Navica will beutilised to perform the work which is scheduled to take approximately 25days during Autumn 2004.
The value of Subsea 7's share of the work is in the region of US$6 million. The Asgard field is located in Haltenbanken area North Sea in approximately 270 metres water depth.
The Glitne extension, which includes procurement and installation of 2.3km, 6in flexible flowlines and umbilical, is an option exercised by Statoil under the existing frame agreement that Subsea 7 holds in joint venture with Stolt Offshore and is in addition to the work performed in 2003.
The offshore installation work will be performed during summer of 2004 and will include the use of divers for the tie in scope. The value of the work for Subsea 7 is in the region of $US7 million. The Glitne field is located in Sleipner area in the NorthSea in approximately 110 metres water depth.