Statoil Inks Subsea pacts with Duo

Statoil Petroleum AS has signed Master Service Agreements with Aker Solutions ASA and OneSubsea Processing AS.

The agreements signed form the basis for potential new EPC contracts (engineering, procurement and construction) for subsea equipment in the medium term future. An EPC option agreement for subsea production system (SPS) has also been signed with OneSubsea, including framework agreements for subsea operations services and subsea add-ons.

Last year Statoil (STO) also signed a Master Service Agreement and an EPC contract including options for EPC project with FMC Kongsberg Subsea AS for Johan Sverdrup.

“In light of the current challenges the industry is facing the suppliers have demonstrated commitment and drive to break the cost curve and enhance competitiveness. Statoil has cooperated closely with the suppliers on technology qualification, concept development and pre-engineering studies, and jointly we have delivered successful subsea projects,” says Torger Rød, vice president for projects in Statoil.

The agreements signed form a good basis for future collaboration with three leading subsea suppliers, thereby simplifying collaboration in the time ahead.

In today’s oil price environment, sustained focus on costs and efficiency will ultimately be the key to develop several currently marginal prospects and discoveries.

“We look forward to continuing the good collaboration going forward. The agreements constitute a framework upon which the suppliers can continue with optimisation and cost reducing measures. Future awards will go to the suppliser who are willing to and capable of continuing the drive for sustained quality, standardisation, higher efficiency and lower costs,” says Rød.