Statoil has issued contracts for new light well intervention (LWI) vessels. The contracts are worth a total of $1.5 billion.

These “category A” units will contribute to increased recovery from Statoil’s approximately 500 operated subsea wells on the Norwegian continental shelf (NCS).

Island Offshore vessels Island Frontier and Island Wellserver, which already have contracts with Statoil, have been awarded new five-year contracts. Eide Well Intervention, a new supplier in this segment for Statoil, has been awarded an eight-year contract for its newbuild.

The contracts with both companies come into effect in spring 2015, and include two options to extend for another two years.

These purpose-built vessels are used for performing light well interventions, well operations and well maintenance without a riser-based system. Statoil can reduce well intervention costs by about 60% by utilizing a LWI vessel instead of a conventional rig.

Øystein Arvid Håland, Statoil’s head of drilling and well, said, “Performing these types of conventional jobs on subsea wells with low volumes of oil in place is expensive. The LWI vessels ensure both cost-efficient and safe operations.”

“Having more and new vessels of this category also helps increase recovery from fields on stream by opening new zones in the well, and stopping water production downhole,” Håland concluded.