Cat B Well Intervention Rig, image: Aker Solutions
In April 2012, Statoil and Aker Solutions announced a $1.9 billion contract to deliver a semi-submersible rig capable of year-round well-intervention services on the Norwegian continental shelf.
This so-called Category B (Cat B) rig was aimed at providing Statoil with a range of well-intervention and drilling services, however as of today, the two companies have terminated their plans to develop this new rig. According to an emailed statement by Aker Solutions, “the technology development needed to build the rig has since proven to be considerably more demanding than initially anticipated.”
“We still foresee a need to develop the supply of this kind of service.” commented Ivar Aasheim, Senior Vice President for Field Development in Statoil, but we “will now evaluate the project and consider alternative solutions.”.
This could be good news for Houston-based Helix Energy Solutions, a specialist in the deepwater well intervention sector which operates the Q4000 semisubmersible well intervention rig, and another similar (and larger) vessel currently under construction.
These rigs are used to conduct well lifecycle maintenance to offshore oil and gas wells to enable increased hydrocarbon recovery rates. In addition, such wells can also be used to drill top-hole sections, alleviating the need for incredibly expensive deepwater drilling rigs to spend days, and millions of dollars, drilling such sections.
Each party will be accountable for its own project-related costs. Aker Solutions will in the second quarter book a one-off cost of NOK 375 million, of which NOK 355 million shall be recognised as an impairment of the investments in the Cat B project, while the remaining are operating costs. The charter period’s contract value of NOK 11.2 billion will be removed from Aker Solutions’ order backlog, which totalled NOK 71.7 billion at the end of March 2013.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,916 members that receive our newsletter.
Have a news tip? Let us know.
The Department of the Interior has announced a new rule aiming to ensure that costs related to the decommissioning of offshore platforms are covered by the oil and gas industry,...
(Bloomberg) — For a company that made its name with frontier oil discoveries from Iran to Alaska, BP Plc is notably absent from today’s hottest new oil plays. The company’s...
Virginia-based energy company Dominion Energy has announced the launch of the first U.S.-built and Jones Act-compliant offshore wind turbine installation vessel, the Charybdis. A 472-foot vessel is being built at the...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,916 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
