Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) announces that it secured a contract from Statoil Petroleum AS ("Statoil") to supply umbilicals for the Johan Castberg Project in the Barents Sea.
The contract is for dynamic and static control umbilicals, totaling approximately 39 kilometers (24 miles) in length, and associated hardware. Oceaneering plans to design and manufacture the umbilicals at its facility in Rosyth, Scotland, with delivery scheduled for early 2021.
The control umbilicals for Statoil's Johan Castberg project are expected to be used to transmit hydraulic control fluid and chemicals, as well as provide the electrical power and fiber-optic requirements to operate and monitor the subsea wells, which are located in approximately 400 meters (1,312 feet) of water. The umbilicals are expected to be tied back to a floating production, storage, and offloading facility, or FPSO.
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