FMC Technologies, Inc. has signed two five-year contracts with Island Offshore Management AS to supply Light Well Intervention (LWI) services for use by Statoil in the North Sea, contingent on approval from Statoil’s partners. Each contract contains options for two, two-year extensions.
FMC’s LWI services enable cost effective intervention and maintenance operations to be performed on existing subsea wells, resulting in higher recovery rates and accelerated production volumes in mature subsea oil fields.
The contracts will commence when the existing LWI contracts between the companies expire in 2015. The well intervention activities will be conducted from two Island Offshore vessels, the Island Frontier and the Island Wellserver.