Lundin Petroleum receives a TechnipFMC bill for Moon II – Lundin Petroleum – Energy



– I'm almost surrounded here I stand. The last time we ate a cake here, Luno II and Rolvsnes were just a PowerPoint dreamer, said Norwegian Lundin CEO, Kristin Færøvik when he was a delegation from the TechnipFMC oil service company on Tuesday.

Lundin is now sending her & # 39; a subordinate contract to build Luno II, which will be the satellite field that will be restored to the Edvard Grieg range. It was the cake event; in the autumn of 2017, when the two companies entered into a sub-formal for projects at Utisrahøyden in the North Sea.

– When we completed the final evaluation of Luno II for years, we were very impressed and we did not work so closely and participate as soon as possible in this project, it was probably not possible Stand today, Lean Færøvik on.

The new drilling data was required to make changes to the design of the field.

Just what exactly the value of the coin is and how much the overall development of Moon II costs will not make it so far. The company has a & # 39; It is considered possible to build 40 to 100 million barrels in Moon II alone.

Norwegian business leader TechnipFMC, Arild Selvig, tells E24 that there is a substantial contract, which the company defines $ 250 to $ 500 million. In Norwegian kroner, it is therefore a subdivision contract between NOK 2.1 and 4.3 billion.

In addition to the contract the Rosenberg de Worley Parsons ship finally defeated, the strict contract is now left.

– It's just about the corner, says Kristin Færøvik to E24.

Technip provides a submersible device for three production wells and two tops in Moon II, and for a well at the Rolvsnes spring where Lundin is a long-term test of the equipment. In addition, pipes and other equipment will come.

The equipments will be delivered from TechnipFMC resources in Orkanger, France and Scotland, as long as all engineering work is carried out in Norway.

Lundin is expected to bring the development plan (PDO) for the Luno II range to the Norwegian authorities by the end of March. Lundin is the licensee operator (PL359) and has a 65 percent stake, although the OMV and Wintershall partners themselves are 20 and 15 per cent respectively.

Imagine they saved one or two years

That's not a big idea that's just TechnipFMC and & # 39; subordinate contract for Luno II. In October 2017, Lundin went to an informal partnership with TechnipFMC.

The idea is, by working closely and over the long term over a number of projects, and by giving the provider more freedom to; Coming with solutions on solutions, the costs will be reduced and more profits to be developed. The model is not very similar to the unions that Aker BP has also made with several providers.

– I think this is our model with Lundin that will take it to bring forward permanent improvements in the & # 39; Business, Arild Selvig at TechnipFMC said during the contract.

He says to E24 that close collaboration has allowed them to organize orders for long-term delivery equipment already in October, which will keep time. For example, the Christmas tree was already ordered in October last year, and traditionally there is a delivery period of 18 to 20 months.

"It is also important that we have a commercial model that inspires us and share the benefits if we are carrying out improvements in the project," said Selvig.

Another aspect of the collaboration, instead of going to a traditional marine marine framework, will be one; going to solve with subtle units scattered on each well, which then adds the oil back to the platform through a lot.

This means that the sources can be much more flexible than they do; Choosing the Viking shelf in the traditional solution. The new design is already used in the Gulf of Mexico in the United States and Africa in some places, but for the Norwegian shelf, TechnipFMC was required to attach a protection grid in fiberglass to protect the equipment from fish laborers.

TechnipFMC also uses what they call Reactive Flex Joint on each type. It affects the boar that is a occur on the well on the seabed when a rig is connected to a riser, and thus reduce its & # 39; spent on the well.

– Instead of providing special requirements for equipment, Lundin has a & # 39; come with operational requirements and allow us to make suggestions for solutions and technology. This is the first project in my own years in & # 39; industry where I saw that we get a better, Selvig said.

– You had to change the part of the project after the drill last year. What additional time would a traditional application process have been in the oil industry?

– Estimated that it would be away from one to two years. He would also have paid extra costs to the supplier and the oil company, says Selvig.

Improving start in 2021

– It is expected to be represented from Moon II in the first quarter of 2021, says Norwegian President Lundin Kristin Færøvik to E24, says much of the work to be done on the Edvard Greek platform will be done Along this area, 2020 summer plan to close.

WorleyParson's shipyard is in Rosenberg outside Stavanger who has been preserved for the change work on the Edvard Greek platform so he can accept the representation from Luno II and satellite satellite Rolvsnes.

As E24 wrote in October, the contract will be worth one hundred million million and land-based work will continue from the first half of 2019 until it will be completed early in 2021. Since the Edvard Greek stadium already built to be able to find a number of things in the future, there is no question of redesignation vast and extensive.

The case is & # 39; follow under the ad.

Although the platform is now rebuilt, there was no oil shortage to recover from the existing area. Production figures from the Norwegian Petroleum Directorate show that the Edvard Grieg area is still in existence; going for a whole machine after its start, just over three years ago.

In July last year, Lundin told them how long they've been to. Increase the reserve resource on the field with 88 million barrels and that product will be maintained for two years beyond the planned one, to the start of 2020.

As well as doing his own oil, Edvard Grieg also has a & # 39; Accept the product from Iker Aasen APP range near it, before all oil from the fields is given in pipes.

Grid connection with grid in the Greek area

Lundin has been working on the advanced development of Edvard Grieg and the surrounding area for several years.

The Edvard Grieg company was acquired in 2007 and November 2015 the show was on the Kværner platform; start.

Two years later, in September 2016, the company provided three inspection contracts (FEED) to evaluate various development concepts for the Luno II results. The choice was between subordinate solutions on seabed or informal junior platforms. Finally, the option fell on subsection.

As well as the work of the engineers and geologists at Lundin and their suppliers, Lundin's business strategies have also been moving. The company has acquired its occupancy occupations in the area around Edvard Greek in several places.

This is how Lundin set himself up and raising his property interests:

Although Goddo is later in time, Rolvsnes who is presenting the next satellite has been extended to Edvard Grieg after Luno II.

The oil in Rolvsnes is located in the granite which is located in the shrine; broken and converted and it is much harder to pull out Moon II. After a 10-day trial test, Lundin argues that they have destroyed the geological knock and under the oil show, ONS name its & # 39; The company converted Rolvsnes's estimate of resources from 3-16 million barrels, to 14-78 million barrels. In general, Lundin produces Rolvsnes and Goddo over 250 million barrels of resources.

Lundin, Norwegian leader Kristin Færøvik says to E24 that they are also planning two things; Jordvik and Tellus Øst are named to contaminate Edvard Grieg. These also provide important information when a company has a & # 39; designing new source sources to be drilled on the Edvard Greek field in the years ahead.

– We will be working actively to make the structural investment we made in Edvard Grieg as well as possible, and all the new search we are doing is; making good news, says Færøvik.


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