By Dominic Chopping

 

Aker Solutions ASA said late Wednesday that it has received a letter of intent for a front-end engineering and design contract from Equinor ASA for a floating, production, storage and offloading vessel for the Wisting oil field development in the Norwegian Barents Sea.

The intended contract includes an option that could represent a significant contract for engineering, procurement, construction and integration of the topside for the vessel .

Work on the front-end engineering and design starts immediately with planned completion in the third quarter of 2022, it said.

Equinor is operator of the Wisting field with a 35% stake. Partners include OMV Norge AS with 25%, Petoro AS with 20%, Idemitsu Petroleum Norge AS with 10% and Lundin Energy Norway AS with 10%.

Aker Solutions defines a significant contract as being worth between 8.0 billion and 12.0 billion Norwegian kroner ($957.5 million-$1.44 billion).

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

October 21, 2021 04:16 ET (08:16 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Equinor ASA (NYSE:EQNR)
Historical Stock Chart
From Oct 2021 to Nov 2021 Click Here for more Equinor ASA Charts.
Equinor ASA (NYSE:EQNR)
Historical Stock Chart
From Nov 2020 to Nov 2021 Click Here for more Equinor ASA Charts.