Total terminates $250m contract for Skandi Aker vessel
Total Exploration & Production Angola has terminated a $250m contract with Aker Oilfield Services, a subsidiary of Aker Solutions, for the well intervention vessel Skandi Aker.
Total Exploration & Production Angola has terminated a $250m contract with Aker Oilfield Services, a subsidiary of Aker Solutions, for the well intervention vessel Skandi Aker.
The vessel entered into operation in September 2013 as part of a contract signed with Total in July 2012.
Following termination, the remaining part of the unfulfilled contract valued at $150m will be removed from Aker’s order book.
The 157m-long vessel halted operations at the end of March for maintenance and repairs, which limited its capacity utilisation to 37% for this year.
"Following termination, the remaining part of the unfulfilled contract valued at $150m will be removed from Aker’s order book."
Aker Solutions said in a statement that it will disclose more information on the contract in its financial results for the second quarter on 17 July.
Skandi Aker was contracted to perform subsea intervention activities related to well re-entry for testing operations, interventions using wireline, coil tubing and well stimulations; running / lifting subsea trees with cable or work-over riser; and suspension or plug and abandonment of wells.
At the time of signing the contract, Aker Oilfield Services president and Oilfield Services & Marine Assets head Karl Erik Kjelstad commented: "Skandi Aker is able to perform deepwater well intervention services that oil companies previously needed drilling rigs to conduct."
Skandi Aker, which is the first in a series of OSCV06L sister vessels, has been designed to suit deepwater subsea well intervention operations.
The vessel features a 42m-tall derrick with heave compensated draw works of 450t, two heave compensated cranes of 400t and 100t capacity respectively, and a skidding system with pallet capacities of 100t in the moonpool area and 60t outside.
Image: Skandi Aker was contracted by Total to perform subsea intervention activities related to well re-entry for testing operations. Photo: courtesy of Aker Solutions.