Statoil has selected Norway-based services provider Aibel to carry out an extended concept study for the Veidnes terminal plant.

The company secured the NOK10m ($1.5m) contract, which also includes options for further work, was formerly known as the Skrugard onshore terminal.

Aibel field development EVP Stig Jessen said, "This is a strategic important contract for Aibel with regards to the growth in the northern areas.".

Under the contract, a team of about 15 engineers from Aibel will perform the extended concept study in Asker.

The project will start immediately, while the main mobilization will take place in mid-August.

The concept study includes a floating production unit with a pipeline to shore and a terminal to transmit oil from the Skrugard oil field at Veidnes outside Honningsvåg in Finnmark.

Statoil has plans to select the concept in 2013-2014, deliver plans for development and operations in 2014-2015, while start production in 2019.

The terminal is anticipated to contribute considerable volumes in 2020.