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Oceaneering wins Johan Castberg contract

Published 01/10/2018, 03:34 PM
© Reuters.  Oceaneering wins Johan Castberg contract
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  • Oceaneering International (OII -2.4%) secures a contract from Statoil (OL:STL) (STO +0.4%) to supply umbilicals for the Johan Castberg project offshore Norway in the Barents Sea.
  • The umbilicals, which are expected to be tied back to an FPSO vessel, will carry hydraulic control fluid and chemicals as well as provide electricity and fiber-optics needed to monitor subsea wells in 1,312 ft. of water.
  • STO said last month that it had submitted a plan for development and operation for the $5.9B Johan Castberg development, where it estimates recoverable resources at 450M-650M boe.
  • Now read: Oceaneering (OII) Presents At Goldman Sachs (NYSE:GS) Global Energy Conference 2018 - Slideshow


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