Remazel Engineering pens Jotun FPSO upgrade deal

Italian engineering firm Remazel Engineering has won a deal from Bluewater for work on the Jotun FPSO upgrade project.

Remazel Engineering said on Wednesday that it would supply the complete mooring and riser pull-in system for the FPSO.

The contract between Remazel and Bluewater includes the design and manufacturing of three windlasses of 250 ton and a single drum winch for riser pull in.

According to the Italian company, the delivery of the equipment is scheduled for January 2021.

The company did not reveal the financials or any other details regarding the deal.

As for the FPSO, Jotun has been producing oil from its namesake field in Norway’s part of the North Sea since 1999, was recently moved by ashore for upgrades, as part of a project designed to extend the life of the Balder offshore area named Balder Future.

The Balder Future project will extend the life of the field (PL 001) by 2045, giving Norway’s oldest license a lifetime of 80 years.

In addition to the upgrade of the Jotun FPSO, 13 new production wells and one water injection well will be drilled on the field. The project aims to extract another 136 million barrels of oil equivalent.

The full upgrade project of the Jotun FPSO includes an overhaul of the turret, pipes, process equipment, hulls, marine systems, living quarters, control, and security systems.

The “new” Jotun FPSO will arrive between the Balder FPSO and the Ringhorne platform during the summer of 2022.

It is worth noting that the Balder Future project represents an investment of NOK 19.6 billion ($2 billion).