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Subsea7 - News - March 1, 2005

Varg Riser Replacement for Subsea 7

Global underwater contractor Subsea 7 today announced a contract award from Talisman Production Norge AS (“Talisman”), for the replacement of a 10” production riser on the Varg field, in the Norwegian Continental Shelf. The contract, which was awarded to the Stolt Subsea 7 joint venture, is valued in the region of US$2.5 million.

The production riser will be deployed from the PGS owned Floating Production, Storage and Offloading (FPSO) vessel ‘Petrojarl Varg’ and tied in to a 10” subsea flowline going to the unmanned monotower Wellhead Platform (WHP) ‘Varg A’. The WHP and FPSO are 1200m apart and are connected by flexible flowlines and risers for oil production and water and gas injection, as well as an umbilical for power supply and control.

The offshore phase of the work began at the end of January and will be performed under the existing Statoil Hyperbaric Welding and Diving Services Contingency Contract.

Robin Davies, North Sea Regional Vice President for Subsea 7 said, “This is an exciting project to be part of as the Varg field was initially seen as marginal with limited reserves, but in the last few years both the life of field and estimated recoverable reserves have doubled. We are delighted with the award and look forward to being of service to Talisman”.

Ends

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For more information, contact:

Lyndsay Cruickshank on +44 1224 344606
Carl Håkon Jarstø on +47 518 37 496

- more -

Notes to editors:

1. Subsea 7 is one of the world’s leading subsea engineering contractors. The company has offshore operations supported out of the UK, Norway, Asia Pacific, Brazil, Gulf of Mexico, West Africa, Middle East and the Caspian and employs 3000 world-wide. Subsea 7 has a fleet of remotely operated vehicles (ROVs), four pipeline construction yards and 14 modern, high specification dynamically positioned ships capable of deepwater reeled and flexible pipelay, deepwater subsea construction and saturation diving. Website: www.subsea7.com

2. Talisman Production Norge AS (previously Pertra AS) is a wholly-owned subsidiary of Talisman Energy (UK) Limited/. http://www.talisman-energy.com/

3. The Varg field is in Block 15/12 and lies approximately 200 km West of Stavanger and 20km South of the Sleipner East field in 84m water depth. Production from the field commenced in December 1998.



 


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