By Dominic Chopping
Aker Solutions ASA said late Wednesday that it has received a letter of intent for a front-end engineering and design contract from Equinor ASA for a floating, production, storage and offloading vessel for the Wisting oil field development in the Norwegian Barents Sea.
The intended contract includes an option that could represent a significant contract for engineering, procurement, construction and integration of the topside for the vessel .
Work on the front-end engineering and design starts immediately with planned completion in the third quarter of 2022, it said.
Equinor is operator of the Wisting field with a 35% stake. Partners include OMV Norge AS with 25%, Petoro AS with 20%, Idemitsu Petroleum Norge AS with 10% and Lundin Energy Norway AS with 10%.
Aker Solutions defines a significant contract as being worth between 8.0 billion and 12.0 billion Norwegian kroner ($957.5 million-$1.44 billion).
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(END) Dow Jones Newswires