Statoil inks $178-million Sverdrup rig deal

Norway

OSLO, November 4, 2015 – Statoil signed an 18-month, $178-million contract with Jacktel for a jack-up accommodation rig to support the installation and commissioning of phase one of the Johan Sverdrup development offshore Norway, the national oil company announced Wednesday.

Jacktel, a subsidiary of Oslo-headquartered Master Marine, will provide Statoil with the 400-bed-capacity Haven, which will also furnish catering services to personnel. The contract is scheduled to start June 15, 2018, and includes five two-month options and sets Haven’s day rate at around $142,335. Before services begin, around $100 million will be spent on upgrading work, expected to be performed at a yard in Norway, to lengthen and strengthen the unit’s legs.

The Johan Sverdrup field is located in the Norwegian North Sea at a depth of 110-120 metres and is one of the country’s largest oilfields, with estimated reserves of 1.7 billion-3 billion barrels of oil equivalent. The first phase is expected to produce 315,000-380,000 barrels of oil equivalent per day when it comes on line in 2019, with peak production projected to reach 550,000-650,000 barrels of oil equivalent per day.

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