Statoil is signing a letter of intent with Sembcorp Marine Rigs & Floaters in Singapore for the construction of the hull and integrated living quarters for the floating production, storage and offloading (FPSO) vessel that will be located on the Johan Castberg field in the Barents Sea.
The contract will be signed at the final investment decision scheduled before Christmas.
Covering engineering, procurement and construction the contract has a value of NOK 4 billion.
The contract, which was won through international competitive bidding, marks an important milestone for the progress of the Castberg project. There were no Norwegian bids for the contract.
The construction of the hull is the most time-critical delivery for the completion of the Johan Castberg project for the scheduled start-up in 2022. The contract will have a separate cancellation clause linked to the approval of the plan for development and operation (PDO).