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Statoil re-hires “light” well team for $100M

Published Jun 20, 2007

Island Wellserver
courtesy Island Offshore

Statoil has granted a NOK600 million ($100 million) contract extension for light-well intervention, or LWI, to Island Offshore Management and partners FMC Technologies and Aker Kvaerner Well Services.

With new-build Island Wellserver due in April, Island Frontier will run the contract through to 2009. LWI lets oil companies hire less costly ships over well-servicing rigs.

A Statoil statement said the well intervention helps the company near its targeted 55 percent recovery rate for Norwegian fields.

LWI is a wireline-based system for workovers in subsea-completed wells and does not require the installation of a riser.

Tags: StatoilHydro

 

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