Aibel has been awarded a NOK 1 billion kroner (US $176 million) contract by Statoil concerning upgrades to the drilling system on Gullfaks B, according to a news release.

The project, which will be executed by Aibel in Haugesund, entails replacing and installing new drilling equipment and systems on Gullfaks B to ensure compliance with the new HSE requirements. The project also is expected to improve regularity, facilitate increased production, and contribute to extend the lifetime of the platform to 2032, the release said.

The project begins immediately and should be finished in January 2016. About 100 engineers in Aibel will be working on the project, while some 60 people will be mobilized offshore during 2014 and 2015, according to the release.