March 17, 2017 / 6:52 AM / 9 months ago

BRIEF-Statoil says Njord partners to submit PDO shortly

March 17 (Reuters) - Statoil Asa:

* Statoil says the Njord partners recently made an investment decision and are planning to submit PDO shortly

* The contract award of 5 billion Norwegian crowns to Kværner is conditional pending approval of the Plan for Development and Operation (PDO) for Njord from the authorities

* The Njord A platform was towed to Kværner’s yard at Stord in August 2016, and was moved into the dry dock in December last year

* The platform will stay in the dry dock until the autumn of 2017 for extension and reinforcement of the hull

* It will subsequently lie alongside the quay for further reinforcement and upgrading work in the period up to the delivery in 2020

* This contract is another example of new local activity and jobs resulting from the transition that the whole Norwegian oil industry has undergone in the past few years

* According to plan the Njord A platform will be towed out on the field and ready to resume production at the end of 2020

* partners in the licence are Statoil (operator) 20 pct, Engie E&P Norge AS 40 pct, DEA Norge AS 30 pct, Faroe Petroleum 7,5 pct and VNG 2.5 Source text for Eikon: here Further company coverage: (Reporting By Ole Petter Skonnord)

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