BHGE and Ocean Installer Awarded Balder X Subsea Contract by Vår Energi
September 27 2019 - 8:30AM
Business Wire
- The integrated EPCI contract includes subsea production systems
and subsea umbilicals, risers and flowline systems
- BHGE will deploy key components of its Subsea Connect approach,
including early engagement, advanced, field-proven technology and
flexible partnerships
Baker Hughes, a GE company (NYSE: BHGE) and Ocean Installer AS
announced today that Vår Energi AS has awarded BHGE and Norwegian
subsea contractor Ocean Installer a subsea contract for the
engineering, procurement, construction and installation (EPCI) of
subsea systems and associated services for the Balder X project on
the Norwegian Continental Shelf (NCS).
Under the contract, BHGE and Ocean Installer will engineer,
procure, construct and install 16 new subsea production systems
(SPS), umbilicals, risers and flowlines to the Jotun A floating
production storage and offloading (FPSO) unit. BHGE and Ocean
Installer will also carry out decommissioning work in the
field.
“Our Subsea Connect approach is transforming the way we do
business and bringing new efficiencies to subsea projects,” said
Neil Saunders, President and CEO, Oilfield Equipment, BHGE.
“Working closely with Vår Energi and Ocean Installer, we will
deploy the key components of Subsea Connect, including early
engagement, advanced field-proven technology, flexible partnerships
and digital solutions to improve project economics. Our experience
in the Balder field, local capabilities and leading technology
solutions will support on-time delivery and strong project
execution.”
“The Balder X project is the largest award in Ocean Installer’s
history, it doubles our order backlog and allows us to be part of
Vår Energi’s first major development,” said Kevin Murphy, CEO,
Ocean Installer. “We are proud to have been chosen for such a
prestigious award and look forward to delivering Vår Energi a
successful project in the North Sea. Furthermore, this project
cements our close relationship with BHGE and provides a fantastic
opportunity to showcase the strength and unique qualities of both
companies in an integrated delivery.”
“We are pleased to award this important contract to BHGE and
Ocean Installer,” said Kristin Kragseth, CEO, Vår Energi. “It will
provide new activity to the world-class oil service industry we
have in the Stavanger region. Both companies have a strong local
presence and large portions of the construction and engineering
work will come from local suppliers, supporting employment in the
region.”
The ongoing Balder X Project is focused on re-developing the
Balder and Ringhorne fields in the North Sea. Redevelopment
activities include refurbishing and relocating the Jotun A FPSO to
extend the production life to 2045 and extending the life of the
Balder FPSO to 2030. It also includes drilling 15 new production
wells in the Balder field area and 11 new production wells in the
Ringhorne field area.
About Baker Hughes, a GE company
Baker Hughes, a GE company (NYSE: BHGE), is the world’s first
and only fullstream provider of integrated oilfield products,
services and digital solutions. We deploy minds and machines to
enhance customer productivity, safety and environmental
stewardship, while minimizing costs and risks at every step of the
energy value chain. With operations in over 120 countries, we
infuse over a century of experience with the spirit of a start-up –
inventing smarter ways to bring energy to the world. Learn more at:
www.BHGE.com.
About Ocean Installer
Ocean Installer is a subsea company headquartered in Stavanger,
Norway and with offices in Aberdeen, Houston, Dubai, and Perth.
Ocean Installer holds strong EPCI expertise within the SURF
(Subsea, Umbilicals, Risers, Flowlines) and Mooring segments. Ocean
Installer will continuously invest and develop its assets to
fulfill its ambition to be a key service provider within the SURF
segment. Ocean Installer is majority-owned by HitecVision, a
leading investor in the offshore energy industry. Learn more at:
www.oceaninstaller.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190927005215/en/
BHGE Contacts:
Media Relations Kelly
Russell +1
713-548-4176 kelly.russell2@bhge.com
Helen Roberts
+44 (0)7557 812474
helen.roberts@bhge.com
Investor Relations Jud
Bailey +1
281-809-9088 investor.relations@bhge.com
Ocean Installer Contact: Kevin Murphy +47 47248471
kevin.murphy@oceaninstaller.com
Baker Hughes a GE (NYSE:BHGE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Baker Hughes a GE (NYSE:BHGE)
Historical Stock Chart
From Jul 2023 to Jul 2024