OSM Offshore Enters New Contract with Statoil

OSM
Offshore has agreed to enter into a 6 years contract with Norwegian
energy company Statoil Petroleum AS to operate the Heidrun FSU.
The
Heidrun FSU is currently being built by Samsung Heavy Industries at the
world’s second-largest shipyard in Geoje Island, Republic of Korea and
is expected to be on location at the Heidrun field in the first half of
2015.The contract between OSM Offshore and Statoil Petroleum for
full management of the Heidrun FSU is a long-term contract with options
for further extension until 13 years.
The Heidrun FSU will be
permanently connected to a buoy, and the oil will be lifted from the FSU
by use of shuttle tankers. The FSU will be permanently manned and has
an expected design life of 30 years.
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