Aker Solutions wins Statoil Deal

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Aker Solutions wins Statoil Deal

Aker Solutions will provide engineering, procurement and management assistance services for five years at the Statoil-operated Johan Sverdrup development in the Norwegian North Sea.

The EPMA work, valued at NOK 4.5 billion, is part of a 10-year framework accord announced in December 2013 and comes after Statoil decided to exercise an option. The assignment will last through 2019 and covers work in the development’s first phase.

“Johan Sverdrup will define the oil industry in Norway and play a large part in our company’s growth for years to come,” said Luis Araujo, Aker Solutions’ chief executive officer. “We are sparing no effort and working in close cooperation with the field’s partners to ensure the development is second to none.”

Aker Solutions last year delivered the front-end engineering and design work for the development’s first phase, consisting of four platforms linked by bridges. The EPMA work for phase one is anticipated at its peak to involve more than 1,000 employees at Aker Solutions’ engineering hubs in Oslo, London and Mumbai.

The field, the largest offshore oil find in Norway in 30 years, is estimated to hold 1.8 billion to 2.9 billion barrels of oil equivalents. It’s expected to produce 550,000 – 650,000 barrels of oil equivalents a day when fully developed, equal to about a quarter of current domestic output. Production is slated to start in late 2019 and is predicted to last for about half a century.

Statoil is operator for the development, which spans three licenses. Other partners include Lundin Norway, Petoro, Maersk Oil and Det norske oljeselskap.

Source: Aker Solutions

More info: www.akersolutions.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.