The contract covers the Engineering, Procurement and Construction of subsea equipment including 9 subsea tree units as well as wellheads, subsea control systems, connection systems and associated equipment.
The contract is for the provision of platform drilling services and has an initial term of 3 years with an option to extend by a further two years.
Marketed utilisation rates would also rebound to 89% by 2020, surpassing rates seen during the heydays before the downturn.
Graham Mackrell, managing director of Harmonic Drive UK, looks at the technological challenges and how high precision gearing is being increasingly used to drill deeper.
This partnership aims to significantly improve operational efficiencies and reduce well costs over the life of the project through a holistic and collaborative development approach.
Equinor is awarding new service contracts to Baker Hughes Norge, Halliburton AS and Schlumberger Norge AS for integrated drilling and well services on most of the Equinor-operated fields on the Norwegian continental shelf.
The company also announced its intention to improve its industry-leading energy efficiency in refining and chemical manufacturing facilities.
Saltel Industries (a Schlumberger company), has recorded 100% success on ECP campaign in western Siberia.
Modulift recently refurbished two subsea spreader beams for a major subsea installation contractor before they were used to lift 260 t and 280 t manifolds for a field development offshore Libya.