Contract

IKM Ocean Design has secured a contract with Statoil to provide pre-FEED and FEED services for the Johan Castberg subsea project, 100km north of the Snøhvit-field in the Barents Sea, Norway.

Under the two-year contract, IKM Ocean will provide Pre-FEED and FEED of pipelines, risers, cables, tie-ins and related structures on the field.

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Statoil’s contract also includes detail design and follow-on engineering as options and covers the subsea umbilicals, risers and flowlines (SURF) as part of the development.

IKM Ocean Design CEO Peder Hoås said: "We are extremely proud that Statoil has chosen IKM for this prestigious task and we look forward to further develop the field in cooperation with the Statoil team in order to make the project technically and commercially robust.

"The contract secures work for our engineers on a long-term basis, and is one of the largest engineering contracts since the company was established."

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"The contract secures work for our engineers on a long-term basis."

Including options, the total contract period is expected to extend to seven years and valued at Nkr200m ($22m).

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The project’s engineering work will be performed from IKM Ocean’s Lysaker office.

The Johan Castberg field development comprises the Skrugard, Havis and Drivis fields, all within production license 532.

Drilling of the well 7220/8-1 on Johan Castberg concluded in early 2011 using Transocean’s rig Polar Pioneer.

Statoil (50%), Eni (30%) and Petoro (20%) are the partners involved in the development of PL532.

Image: IKM Ocean Design signs contract with Statoil to provide services for Johan Castberg project. Photo: courtesy of The IKM Group.