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Statoil Issues Intent To Award $65 Million In Contracts
STAVANGER, Norway - Den norske stats oljeselskap a.s. Statoil has issued a letter of intent to award all of its pipeline commissioning and well testing services to Halliburton Oilfield Services Norway for the next 5 years. The total contract is valued at up to $65 million USD.
The pipeline commissioning services contract includes the management, pipeline engineering, procurement, equipment and expertise to perform all of Statoil's precommissioning and commissioning requirements from 1996 to 2000, with the option for an additional year. This contract is valued at $40 million USD.
A number of pipelines will be brought on-line during the contract term including the 12.5 km 20" diameter "Sleipner Vest Ror" and the 860 km 42" diameter "NORFRA." This contract continues the cooperation between Halliburton and Brown & Root for pipeline commissioning which began with the commissioning of Statoil's Zeepipe in 1991 and continues in the ongoing Europipe development project.
Statoil also announced its intent to award the testing work on all of its installations and rigs to Halliburton. This includes the supply, management and engineering of drill stem test tools and associated tubing conveyed perforating, well clean-up, and production testing services. The contract period began on December 1, 1995 and runs for three years with a two-year optional extension. The testing contract is valued by Halliburton at approximately $25 million USD.
A number of important fields will require the testing services during the contract term including the appraisal wells for the Aasgard field and fields with licenses to be awarded in an upcoming round of bidding. The testing contract will require very close cooperation between Halliburton and Statoil since this is the first time services in this category have been awarded on this scale.
"The award of these major contracts is consistent with our intent to reduce operating expenditures by combining service contracts and entering into long-term agreements with suppliers," said Statoil. "Halliburton and Brown & Root are continuing to play a major role in Norway's position as the major exporter of natural gas to Europe."
Halliburton Energy Services, a Halliburton Company (NYSE:HAL) organization, is a leading supplier of products, services and integrated solutions to the energy industry on a global basis.
Contact
Brandon Lackey
Public Relations
(p) 713.624.3463
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