The vessel will be 106.5 m long and 24.5 m wide with a top speed of over 17 knots.
This subsea vessel will be equipped with three ROVs: one for observation and two for operation. It will also have an Module Handling System.
Onboard the vessel will be a 100-tonne AHC (Active Heave Compensated) offshore crane. The crane will be used mainly for lifting/lowering heavy equipment from/to the sea bottom.
The vessel will able to carry out demanding operations even under harsh weather conditions.
- Norway: NPD Supports Statoil’s New Rig Concept for Subsea Wells (mb50.wordpress.com)
- Norway: Ulstein Launches New Platform Supply Vessel for Blue Ship Invest (mb50.wordpress.com)
- Helix Orders Semi-Sub Well Intervention Rig in Singapore (mb50.wordpress.com)
- Helix Well Ops UK Completes Well Intervention in West Africa (mb50.wordpress.com)
- Swire Acquires Norway’s Subsea Specialist (mb50.wordpress.com)
“Statoil delivered strong financial results in the third quarter of 2011, reflecting operational performance in line with expectations and strong oil and gas prices throughout the period,” says Helge Lund, Statoil’s chief executive officer.
Statoil presented the long term strategy and long term growth outlook on its capital markets day in June 2011, where revitalisation of the NCS with high value barrels and expansion in unconventionals are among key building blocks.
“The giant Aldous/Avaldsnes discovery clearly reaffirms the strong potential of the Norwegian continental shelf, and we continue our long-term effort to position Statoil as an industrial player and operator within unconventionals through the offer to acquire all shares of the Brigham Exploration Company,” says Lund.
The quarterly result was mainly affected by a 30% increase in the average prices for liquids measured in NOK, a 13% increase in average gas prices, a 13% increase in lifted volume compared to the same period last year, and a net impairment loss of NOK 4.8 billion mainly related to the refinery business.
Net income in the third quarter of 2011 was NOK 9.9 billion compared to NOK 13.8 billion in the same period last year. The decrease stems primarily from lower gain on net financial items and higher tax rates, and was only partly offset by higher net operating income. The tax rate for the quarter was 76.6%.
Adjusted earnings in the third quarter of 2011 were NOK 43.1 billion, a 62% increase compared to NOK 26.7 billion in the third quarter of 2010.
Adjusted earnings after tax were NOK 11.4 billion in the third quarter of 2011. Adjusted earnings after tax exclude the effect of tax on net financial items, and represent an effective adjusted tax rate of 73.5% in the third quarter of 2011.
Total equity production was 1,764 mboe per day in the third quarter of 2011 compared to 1,552 mboe per day in the third quarter of 2010.
Highlights since second quarter 2011:
Successful exploration, highlighted by the Aldous/Avaldsnes oil discovery in the North Sea, one of the largest finds ever on the Norwegian continental shelf. Statoil holds a 40% interest in both licences. In total, 9 discoveries on 13 completed wells by 30 September.
Further expanding in unconventionals, through a merger agreement between Statoil and Brigham Exploration Company for Statoil to acquire all the outstanding shares of Brigham through an all-cash tender offer. If the tender offer is successful, the acquisition adds 375,000 net acres in the Williston Basin with potential for oil production from the Bakken and Three Forks formations. The transaction builds on Statoil’s stepwise build-up in the United States and establishes Statoil as an operator in unconventional plays.
Maturing the project portfolio, including August start-up of the Pazflor development in Angola. Statoil has a 23.33% interest and Pazflor is expected to contribute with 47 000 barrels per day in equity capacity when plateau is reached in the first quarter next year.
Industrial progress, as plans for development and operation (PDO) are submitted to the authorities for the Skuld field in the Norwegian Sea and for the subsea gas compression project at Åsgard, to maintain production from the Mikkel and Midgard reservoirs. PDO for Stjerne and Vigdis North East has been approved.
Participating interests in two exploration licences in Camamu-Almada basin offshore Brazil have been farmed down 10% and 15% respectively to Gran Tierra Energy. The agreement is subject to approval by Brazilian authorities and other conditions.
1 billion Norwegian kroner = 182.23900 million U.S. dollars
- USA: Statoil Signs Energy Partneship Agreement with UT (mb50.wordpress.com)
- Norway: Statoil Gets Clearance to Use Island Constructor (mb50.wordpress.com)
- Statoil Buys Brigham for $4.4 Billion to Get Bakken Shale (businessweek.com)
- Statoil buys Texas-based Brigham for $4.4B (seattlepi.com)
- Norwegian giant in it for the long haul with Texas shale venture (mb50.wordpress.com)
- Deal Profile: Statoil to Buy Brigham for $4.4 Billion (blogs.wsj.com)
- Statoil Q3 profit drop 25 percent on higher costs (seattletimes.nwsource.com)