Aker Solutions and Statoil awarded ONS Innovation Award
29 August 2012 - Aker Solutions and Statoil have been awarded the ONS Innovation Award for the Åsgard subsea gas compression system.
The ONS Innovation Award, which was first presented in 1982, recognises the crucial importance of cutting-edge products and solutions. Today, the 2012 award was given to Aker Solutions and Statoil acknowledging subsea compression technology.
In 2015 the world's first subsea gas compression station will go on stream in the Åsgard field offshore Norway. This will boost falling gas pressures from the Midgard and Mikkel satellite reservoirs, allowing stable production to continue and enabling an additional 280 million barrels of oil equivalent to be recovered. The project is operated by Statoil and delivered by Aker Solutions.
Subsea compression improves gas recovery and provides many benefits compared to the alternative of installing a new platform. Further benefits include reduced investments and operating costs, a smaller environmental footprint and safer operations.
Reservoir pressure in producing gas fields falls over time, causing gas output to decline. For production to continue and maximise recovery from the fields, gas pressure must be raised or production will cease.
Until now the solution has been to install gas compressors on an existing platform, or to build a new manned compression platform. A more cost-effective alternative would be to install the compressors on the seabed, near to the wellheads to improve recovery, while reducing overall capital and operating costs.
For the past 30 years this has been a major goal for the industry, as it has sought to transform the concept into reality. The Åsgard subsea gas compression project will be the first in the world to attain this goal. Two state-of-the-art 11.5MW subsea compressors will be installed on the field in 2015, avoiding the need to install a new large semi-submersible platform.
ENDS
For further information, please contact:
Media:
Severin Roald, Vice President Communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: severin.roald@akersolutions.com
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 91 13 71 94, E-mail: lasse.torkildsen@akersolutions.com
Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers
Career opportunities:
Visit http://www.akersolutions.com/careers
Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 25 000 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
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