Energy futureSpain to explore oil reserves on its east coast

Published 11 February 2008

Spanish oil company signs up a leading Norwegian engineering company to do infrastructure work for to oil exploration projects off the east coast of Spain

Spanish oil company Repsol YPF has awarded Oslo, Norway-based Aker Kvaerner a contract for the delivery of a subsea production system to projects off the east coast of Spain. Financial details of the contract, which covers the Montanzo and Lubina projects, were undisclosed. The deal calls for Aker Kvaerner to carry out engineering, procurement, and construction of two subsea trees with control systems, connections, and overtrawlable structures. The project is based on Aker Kvaerner’s standard configurable tree (SCTTM), a tree system configured from standardized, stocked core components. It claims that the system offers significant reductions in lead times.

The equipment is scheduled for delivery in the first quarter of 2009. The project will be managed from Oslo, Norway. Subsea trees will be manufactured at Tranby, Norway, and control systems in Aberdeen, Scotland. Aker Kvaerner — which employs more than 24,000 people in more than thirty countries — is part of Aker, a group of premier companies with a focus on energy, maritime, and marine-resources industries.