July 12, 2012

Statoil has awarded Technip a letter of intent for construction of the hull for the world’s largest Spar platform on the Aasta Hansteen field. This will be run from Statoil’s new operational asset in Harstad. The project will be led by Technip in a Consortium with Hyundai Heavy Industries. The platform will be the first Spar with storage capacity and will be able to store about 25,000 cubic meters of condensate, and export gas via the Norwegian Sea Gas Infrastructure. Aasta Hansteen is the start of deepwater development in the Norwegian Sea and the development could also open up for tie-backs to other discoveries in the same area. Total recoverable reserves for Aasta Hansteen, previously called Luva, are preliminarily estimated at about 47 billion cubic metres of gas and 0.8 billion cubic meters of condensate. The spar platform will be built in South Korea. Technip will design, procure and deliver the Spar platform hull.