Ocean Installer sign Loi to award significant contract with Norske Shell
Norske Shell announced on 30 March 2012 that they have signed a Letter of Intent with Ocean Installer for a contract of NOK 850 million ($150 million) for the development of the Draugen field.
The contract is a major achievement for Ocean Installer, bringing the company from a start-up to a tier 1 player in the subsea construction market. The contract was awarded in competition with the major global subsea construction companies and is estimated to be one of the largest construction contract, excluding rigid pipe-lay, awarded in the North Sea in 2012.
The contract covers expansion and enhancement of the subsea infrastructure into the Draugen Field, where Norske Shell are drilling infill-wells to enhance oil recovery. Ocean Installer will be responsible for all aspects of the project, from planning, to final installation. This means, amongst others, the responsibility for the design, procurement and installation of 18,5km oil production and gas lift flexible flowlines and the installation of 21km of umbilical, including pull in to the Draugen platform. Ocean Installer will execute project management and engineering from its headquarters in Stavanger, whilst the advanced offshore construction vessels Normand Mermaid and Normand Clipper will constitute the core of the offshore activities. The work will commence immediately and is planned to be completed in 2014.