Aker Stord wins $560 million contract
11 Jan 2002
A contract worth $560 million to build the topsides for Statoil's Kristin platform has been awarded to Norwegian company Aker Stord.
This is the first major job placed for the gas and condensate development, which will act as a new field centre in the Norwegian Sea.
Kristin is being developed with a floating production platform tied to 12 subsea wells.
Aker has been awarded an engineering, procurement, construction and hook-up (EPCH) contract covering design and fabrication of the deck, process facilities and utilities, and all module hook-up.
The contract includes various incentives relating to health, safety and the environment (HSE), quality and weight.
Construction at the Stord yard is due to begin in January next year with production scheduled to begin on 1 October 2005..
Orders are due to be placed during the coming spring and summer for the field's subsea production systems, living quarters and steel platform hull.
The field is due to deliver roughly 35 billion cubic metres of lean gas until 2016. Its estimated output of condensate (light oil) is just under 220 million barrels, and it should yield 8.5 million tonnes of natural gas liquids.
