Statoil awards an subsea installation contract valued at over €150 million ($198.6 million) for its Asgard subsea compression project offshore Norway to Technip.
The French engineering company announced the contract covers the installation of the subsea compression system and its connection to the existing subsea infrastructure and the Asgard platform, 40 kilometres east of the Asgard field.
Technip will build and install pipeline spools, power cables and umbilicals.
The contract also includes engineering, fabrication and supply of a special handling system for the installation and retrieval of the subsea compression system modules and the initial installation of those modules.
Technip will conduct the work from its bases in Oslo and Stavanger, with offshore construction to take place in 2013 and 2014.