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Equinor awards over $3 billion of drilling and well services contracts

22/06/2018
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Norwegian energy giant Equinor has awarded enormous new service contracts to Baker Hughes Norge, Halliburton AS and Schlumberger Norge AS with a combined value of NOK 30 billion ($3.66 billion) over 4 years.

The contracts cover a variety of services including integrated drilling and well services, cementation and pumping, drilling and completion fluids, completions and electrical logging. Equinor states that the purpose of integrated drilling and well services is to clarify roles and responsibilities, resulting in less interfaces and facilitating more seamless planning and implementation of the operations between the various contributors.
It is expected that Equinor's massive drilling and well services contracts will create 2000 jobs across 17 fixed platforms and eight mobile rigs.
(The Grane platform in the North Sea. Image via Equinor ASA).

The contracts apply to most of Equinor’s operated fields on the Norwegian continental shelf, and carry options for five 2-years extensions.

It is expected that the contracts will create 2000 jobs across 17 fixed platforms and eight mobile rigs.

Commenting on the contract awards, Pål Eitrheim, Equinor’s chief procurement officer, said:

“This is a great day for Equinor and the Norwegian continental shelf. The contracts are the biggest we have ever awarded within drilling and well service. The integrated delivery model we have chosen will strengthen the interaction between the service supplier, rig supplier and operator, enabling us to drill more wells. This, in turn, will enhance recovery and ensure long-term operations.”

“The collaboration model has already been tested out for Johan Sverdrup Phase 1, Aasta Hansteen, Mariner and the Askeladd and Askepott Cat J rigs with very good safety and efficiency results,” says Geir Tungesvik, senior vice president, drilling & well.

“The service supplier, rig supplier and Equinor will collaborate as a team, and together decide how to best solve the tasks. We have common drivers to help us achieve our aims, and we are willing to reward good performance, because it helps us increase profitability. The principle of the collaboration model is to always operate according to best practice, learn across operations and leverage lessons learned for continuous improvement.”

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Equinor awards over $3 billion of drilling and well services contracts - Time to read 2 min
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