Aker Options (OTCMKTS: AKRTF) introduced Thursday that it has received a “massive” contract from ConocoPhillips (NYSE: COP) to supply a subsea manufacturing system for the Eldfisk North growth offshore Norway.
The work scope of the contract covers a whole subsea manufacturing system, together with 13 standardized vertical subsea bushes, wellheads, management programs, three six-slot templates with built-in manifolds, and related providers, Aker Options revealed. The corporate defines a “massive” contract as being price between $139.4 million (NOK 1.2 billion) and $232.4 million (NOK 2 billion).
Work on the contract will begin instantly and can contain Aker Options’ services in Brazil, Malaysia, Norway, and the UK, the enterprise famous, including that ultimate deliveries are scheduled for 2024. The undertaking growth is topic to a ultimate funding choice by the license companions and regulatory approval by Norwegian authorities.
“We stay up for proceed our long-standing relationship with ConocoPhillips in Norway and to additional develop the Eldfisk area,” Maria Peralta, the manager vp of Aker Options’ subsea enterprise, mentioned in an organization assertion posted on Aker Options’ web site.
In October final 12 months, Aker Options revealed that it had received an order from ConocoPhillips to ship the subsea manufacturing system for the Tommeliten Alpha growth, additionally located offshore Norway. The scope of labor underneath the deal lined a whole subsea manufacturing system, together with ten vertical subsea bushes, two manifolds, wellheads, satellite tv for pc constructions, management programs, and tie-in tools and the estimated contract worth was mentioned to be about $139.4 million (NOK 1.2 billion).
The Eldfisk oil area, which is located south of the Ekofisk area within the Norwegian North Sea, was found again in 1970. It’s mentioned to be the second largest of three producing fields within the Larger Ekofisk Space, and one of many largest on the Norwegian continental shelf.
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