DeepWell Wins with Statoil

DeepWell, the Norwegian well intervention company, has secured a long-term contract for provision of mechanical wireline services to Statoil.

The contract value for the firm period, including options for add-on services, is estimated to exceed NOK 1 billion over a four-year period, or more than NOK 2 billion if option periods are included.

DeepWell’s existing contract with Statoil dates back to 2009. The new contract secures activity and visibility for DeepWell and its employees for the next decade.

The contract covers provision of mechanical wireline services for 10 fixed installations (Gullfaks A, B & C, Statfjord A, B & C, Snorre A & B and Sleipner A & Vest) as well as 11 floaters (semi-submersible drilling rigs).

The contract has a fixed term of 4 years plus three 2-year extension options, for a potential contract period of 10 years. Additional optional scope under the contract includes logging and other conveyance services.