Statoil completed a huge round of agreements for Johan Sverdrup Project

Statoil, within the Johan Sverdrup partnership, has declared that it has signed a letter of intent with Aibel for the construction of the processing platform topside for phase 2 of the project. A letter of intent for field centre modifications is also issued to a joint venture of Aker Solutions and Kværner. Total value is estimated at more than € 1.15 billion.
Phase 1 of the Johan Sverdrup development is well underway with planned startup in late 2019, while letters of intent are being signed for the following phase, with contracts that will be awarded later this year. Production start for phase 2 is planned in 2022.
The contract to be awarded to Aibel includes engineering, procurement and construction of the topside for the second Johan Sverdrup processing platform (P2) which will extend production capacity on the field from 440,000 to 660,000 barrels of oil per day after startup in 2022. The value of the contract is approximately € 840 million.
The contract to be awarded to the Aker Solutions-Kværner joint venture includes engineering, procurement and construction of a utility module for the riser platform, field centre modifications, and installation and hook-up activities related to the phase 2 development. Contract value is estimated at € 360 million.
The two phase 2 contracts will lead to increased activity at several yards along the Norwegian coast – particularly in Haugesund, Egersund and Stord. Engineering activity will take place in Asker (Aibel) and Stavanger (Aker Solutions).
The contracts are subject to Norwegian government approval of the plan for development and operation for Johan Sverdrup phase 2 due to be submitted in the second half of 2018.