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Statoil Awards $200 Million Package To Baker-Halliburton
STAVANGER, Norway - Statoil has announced that a $200 million USD services package has been awarded to the Baker-Halliburton joint bid for Aasgard well services. This is a major project and will be a very important task undertaken by Statoil. The field development plans include a total of 60 wells to be completed in three different reservoir structures, 40 of which require hydraulic fracturing to produce economically.
The Aasgard field will be completed with all subsea templates with wells drilled from floaters and one twin-hulled new build designated for completion work. Oil will be produced with a FPSO (Floating Production, Storage and Offloading vessel) and gas will be exported to land via pipeline.
The joint bid was formed as a result of challenging reservoir conditions and the recognition by the two companies that the combined technologies of Halliburton and Baker would have the best chance of success.
The contract period starts Sept 1, 1996 and runs for three years with an option for two additional three-year periods. The field development work will start beginning in 1997 when the rig Transocean Searcher, presently drilling appraisal wells, is supplemented by the Treasure Saga. The plan calls for continuous drilling with the two rigs until the year 2001.
Halliburton estimates its revenues in excess of $100 million from its provision of fracturing, Tubing Conveyed Perforating (TCP), testing and cementing services.
Halliburton Energy Services, a Halliburton Company 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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