Aker Solutions secures subsea contract from Equinor for Kristin Sør fields

14 December 2020 (Last Updated December 14th, 2020 16:32)

Norwegian engineering firm Aker Solutions has signed a letter of intent (LoI) with Equinor to deliver subsea production system (SPS) for the Kristin Sør oil and gas satellite fields in the North Sea.

Aker Solutions secures subsea contract from Equinor for Kristin Sør fields
Kristin Sør comprises the Lavrans and Kristin Q fields. Credit: Aker Solutions.

Norwegian engineering firm Aker Solutions has signed a letter of intent (LoI) with Equinor to deliver subsea production system (SPS) for the Kristin Sør oil and gas satellite fields in the North Sea.

The Nkr1bn ($113.5m) contract has options for additional work.

Aker Solutions noted that the contract would take effect next year, with completion of the work anticipated during the first half of 2023.

Kristin Sør comprises the Lavrans and Kristin Q fields, which serve as satellites to the existing Kristin semisubmersible platform.

Aker Solutions CEO Kjetel Digre said: “With improved technical solutions and cost levels for subsea technology, development of satellite fields is attractive for several oil companies.

“This is also a responsible approach to utilising marginal resources with a minimum of new installations. We see that an increasing number of our subsea projects are related to such satellite projects.”

The Norwegian engineering firm expects to supply a subsea template with four ‘standardised vertical subsea trees’ for the Lavrans centre and a manifold for Kristin Q.

According to the company, its standardised subsea tree design enables ‘shorter time’ from the start of a project to first oil.

The contract award is, however, dependent on a final investment decision (FID) for Kristin Sør and securing regulatory approval.

Aker Solutions said it plans to book the new order in the fourth quarter (Q4-4040) under its subsea segment.

Digre added: “This award demonstrates that our standardised solutions are competitive and has the flexibility to also be applied on fields with demanding temperature and pressure conditions.

“We have over time cooperated closely with Equinor in the development and optimisation of such equipment, and we are pleased to continue this close collaboration in the new Kristin Sør project.”

Last month, Aker Solutions secured a contract for maintenance and modifications work at Equinor’s Peregrino oil field in the deep waters of Brazil.