SBM Offshore Wins Contract From Statoil For Johan Castberg Project in Norway

By Maryam Cockar Features Dow Jones Newswires

SBM Offshore NV (SBMO.AE) said Wednesday that it has been awarded a contract from Statoil ASA (STL.OS) to proceed with engineering and construction work for a large-scale turret mooring system for its Johan Castberg development off the north coast of Norway.

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A turret mooring system allows a vessel to rotate around the fixed part of a seabed.

Dutch oil-and-gas services company SBM said the contract award follows its previous contract to deliver front-end engineering and design work for the mooring system for Statoil.

SBM said the turret is expected to be delivered in modules in early 2020, will be moored to a water depth of about 370 meters and will have a capacity to accommodate 21 risers--a pipe that connects an offshore rig to a sub-sea system.

Write to Maryam Cockar at maryam.cockar@dowjones.com

(END) Dow Jones Newswires

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December 06, 2017 12:38 ET (17:38 GMT)