Norwegian power significant Equinor has actually granted brand-new agreements for incorporated boring as well as well solutions agreements totaling up to NOK 30 billion (concerning $3.7 billion).

Equinor, which was just recently relabelled from Statoil, granted the agreements to Baker Hughes Norge, Halliburton AS as well as Schlumberger Norge AS as well as cover a lot of the Equinor- run areas on the Norwegian continental rack.

The agreements cover a preliminary 4 years as well as consist of alternatives for 5 2-year expansions.

“This is a great day for Equinor and the Norwegian continental shelf. The contracts are the biggest we have ever awarded within drilling and well service. The integrated delivery model we have chosen will strengthen the interaction between the service supplier, rig supplier and operator, enabling us to drill more wells. This, in turn, will enhance recovery and ensure long-term operations,” states Pål Eitrheim, Equinor’s principal purchase policeman.

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Equinor states the objective of incorporated boring as well as well solutions is to make clear duties as well as obligations. “This results in less interfaces and more clearly defined responsibilities, facilitating more seamless planning and implementation of the operations between the various contributors,” the firm states.

“The collaboration model has already been tested out for Johan Sverdrup Phase 1, Aasta Hansteen, Mariner and the Askeladd and Askepott Cat J rigs with very good safety and efficiency results,” states Geir Tungesvik, elderly vice head of state, piercing & & well.

The brand-new agreements are anticipated to produce work for some 2000 individuals on 17 dealt with systems as well as 8 mobile gears. They will certainly change the present solution agreements, which end on 31 August 2018.

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“The contracts aim at new ways of collaborating, giving the service suppliers greater responsibility for services than before. Support from land will be essential to successful implementation of integrated operations. For mobile units the service contracts will be linked to the rig rather than the various licences,” Equinor claimed in news release.

“The service supplier, rig supplier and Equinor will collaborate as a team, and together decide how to best solve the tasks. We have common drivers to help us achieve our aims, and we are willing to reward good performance, because it helps us increase profitability. The principle of the collaboration model is to always operate according to best practice, learn across operations and leverage lessons learned for continuous improvement,” included Tungesvik.

Read: Photos: Aasta Hanseen Tow-Away