Equinor has signed drilling service contracts worth around NOK2.5bn ($285.75m) with multiple suppliers pertaining to new and existing fields on the Norwegian continental shelf (NCS).
The contracts come with a three-year fixed contact term and also have five two-year options, said Equinor.
The Norwegian oil and gas giant said that contracts for services associated with liner hangers were awarded at its digital laboratory at Forus, Stavanger, while the contracts for additional completion and downhole monitoring were given earlier.
Halliburton, Baker Hughes Norge and Weatherford Norge bagged contracts for all the three services – liner hangers, additional completion and downhole monitoring.
The Norwegian oil and gas giant revealed that Schlumberger showed its intent to provide services related to liner hangers. The final contract in this regard is slated to be signed at a later stage.
Schlumberger Norge, otherwise, has signed two contracts so far for additional completion and downhole monitoring.
Equinor drilling & well senior vice president Geir Tungesvik said: “These contacts will help us continue our safe and efficient drilling and well operations. The suppliers are specialists that we have worked with before, and we know what they stand for. We look forward to continuing our good cooperation.”
The company said that the newly awarded contracts, which cover niche deliveries, complement the integrated drilling and well service contracts that were signed last year.
Furthermore, the services to be delivered under the contracts are said to be crucial in capturing additional value on the Norwegian continental shelf and have an objective to boost the recovery rate from 50 to 60%.
Equinor chief procurement officer Peggy Krantz-Underland said: “We have standardised the contract set-up between various suppliers. This simplifies the collaboration and creates win-win solutions.
“For these services, we do not buy services from the biggest suppliers only, but also from small-size suppliers with the required specialist competencies.”
Earlier this week, Equinor and its partners were granted consent from the Norwegian Petroleum Directorate (NPD) to begin production at the Trestakk field on the Halten Bank in the Norwegian Sea. Slated for start-up this month, the Trestakk field is located nearly 25km southeast of the Åsgard field.