Statoil and its partners in the Nkr13.3 billion ($1.6 billion) Njord Future project off Norway have made a surprise decision to revamp the field’s existing floating storage unit instead of going for a newbuild or leased vessel to extend field life to 2040.
Upstream was told that the Norwegian state-controlled player made a choice to reuse the Njord B vessel after concluding that commercial bids submitted in November by companies offering newbuild and leased solutions were too expensive.
A
