Statoil and Aker Kvaerner announce plan to build offshore platform

Sep 29, 2006, 15:34 GMT

Oslo - Major Norwegian concerns Statoil and engineering group Aker Kvaerner announced Friday they had signed a memorandum of understanding to build an offshore platform that Aker Kvaerner estimated to be worth some 8 billion kroner (1.3 billion dollars).

The semi-submersible platform was slated for use at the Gjoa field off Norway. It would be 110 metres long, 85 metres wide and estimated to weigh almost 20,000 tons.

A final contract was due to be signed in October.

Aker Kvaerner executive vice president Simen Lieungh said the two groups had 'a very good working relationship,' citing previous cooperation in platforms for the Snohvit and Kristin fields.

Aker Kvaerner said engineering work would be carried out at headquarters in Oslo, as well as at the group's engineering entity in Mumbai, India.

The Gjoa field was discovered 1989, and has both oil and gas finds with estimated reserves of some 82 million barrels of oil and condensate and 40 billion cubic metres of natural gas.

Statoil, which has a 20-percent stake was to develop the field, while Gaz de France was to operate it. The French group has a 30-per cent stake.