□ (Statoil 개요)
노르웨이 국영 석유기업인 Statoil은 1972년 설립되었으며,
석유·가스 산업 발전에 기여하는 정부의 상업적 도구로서의 역할을 수행
○ 1970∼1980년대에 정부는 석유 및 산업 발전을 국가차원에서 관리
- Statoil은 1970년대에 탐사와 석유정제를 시작하였으며, 1980년대에는 노르웨이 대륙붕에 위치한 대규모 유전개발을 통해 크게 성장30)
- Statoil은 대륙붕(NCS) 자원에 대한 접근 권한과 사업 기회를 얻으면서 기술력을 확보
○ 대륙붕(NCS) 자원개발이 진행되고 산유국으로서의 노르웨이의 위치가 안정되자, Statoil은 해외로 진출하여 기업의 미래를 보장할 방법을 모색
- 2001년에는 오슬로 및 뉴욕 증권거래소 상장을 통해 부분 민영화하였으며, 현재 35개국에서 활동하는 국제석유가스기업
- 최근 Statoil은 전문성을 활용한 셰일가스 프로젝트 등을 통해 비전통석유가스 부문의 상류 활동을 성장시킴.
- Statoil의 해외에서의 석유 및 가스 생산량은 지속적으로 증가
- 2015년을 기준으로 대륙붕(NCS)에서의 석유 및 가스 생산량은 123만 b/d로 총생산량의 68%를 차지하며, 해외에서의 생산량은 58만 b/d로 32%를 차지
□ (Statoil의 경영체계) 노르웨이의 공기업들은 현재 기업법의 적용을 받고 있으며, 노르웨이 기업지배구조 원칙(The Norwegian state’s principles of corporate governance)33)을 모든 공기업에 적용하고 있음.
○ 공기업 임원선임을 위해서 정부대표와 주주들로 구성된 주주총회에서 임명위원회를 선출하며, 임명위원회는 이사 선발을 위한 사전작업을 실시
- 이사 선발 시 공기업의 특성, 이사의 역량, 출신지, 나이, 문화적 배경 등을 고려
○ 통상산업부는 국가 소유권 보고서(The State Ownership Report)를 발행하고 있으며, 기업별로 재무제표, 대차대조표, 현금흐름 등 주요 지표를 공개
□ (자원개발 정책목표와 Statoil의 역할) 노르웨이의 자원개발에 대한 정책목표는 대륙붕(NCS) 석유개발 초기부터 일관되게 유지해오고 있음.
○ 1971년 의회(Storting)는 ‘석유 10대 원칙(10 oil commandments)’36)을 만들었으며, 노르웨이의 석유 정책의 방향에 중요한 의미
- 10대 원칙은 석유개발을 통해 에너지 독립과 연관 산업 육성을 도모
○ Statoil은 석유 및 경제개발을 위해 정부의 목표를 수행하는 기업인 동시에 세금과 배당금을 통해 국가에 이익을 안겨주는 수익창출 기업
- 정부는 초기에 전자의 역할을 강조하였으나, 시간이 지남에 따라 후자의 역할을 강조
□ (자원개발 추진체계) 석유에너지부는 자원 관리하며, Statoil과 Petoro에 대한 소유권과 총괄적 책임을 가짐.
○ 석유국(Norwegian Petroleum Directorate)은 석유에너지부 산하기관으로서 대륙붕 탐사 및 생산과 관련된 활동을 규제하는 행정적 권한 보유
- 석유국(NPD)의 역할은 석유에 관한 독립적 기술자문을 석유에너지부에 제공하고 대륙붕(NCS)에서 Statoil을 포함한 여러 기업들을 규제하는 것임.
○ 정부는 현재 Statoil 지분의 67%를 소유하나, Statoil은 독립적 영리기관으로 운영
- Statoil에 대한 정부의 소유권 행사는 지식기반 첨단기술 기업의 국내 유치와 상업적 운영을 통한 국가의 수익 확보의 목적
- Statoil은 국가 전체의 석유와 가스의 관리, 운송 및 판매 책임을 가짐.
□ (정부와 Statoil의 관계) 1990년대 후반 Statoil은 영리추구 기업화되었으며, 부분 민영화의 영향으로 소주주들과 정부를 동등한 위치에 두게 됨.
○ Statoil 설립 후 초기에 주도권을 잡기 위한 정부와 Statoil의 정치적 싸움이 있었으나, 1988년 Harald Norvik가 Statoil의 CEO가 되면서 정부와 대등한 공적 관계를 가지게 됨.
- 이러한 변화는 Statoil의 해외사업이 점차 발달함에 따라 상업적 경쟁력이 높아지면서 가능해졌음. 경험 많은 해외 메이저인 BP와 협력(1990-1999년)하였으며, 이는 Statoil이 세계시장에서 급성장할 수 있는 기회였음.
- Norvik은 정부로부터 독립적인 기업 운영을 위해 부분 민영화 전략 선택
○ 민영화 이후 정부는 사업 관련 의사결정에 크게 개입하지 않음.
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노르웨이 석유업계 때아닌 호황…저유가 동안 비용 절감
2017-01-16 14:47 송고 (서울=뉴스1) 배상은 기자
지난 2년 가스·원유 생산 모두 예상 웃돌아
노르웨이 국영석유업체 스타토일이 북해에서 운영하는 스타트표르드(Statfjord) 유정 플랫폼 © AFP
노르웨이 석유업계가 저유가 동안 실시한 고통스러운 비용 절감으로 때아닌 호황을 맞고 있다. 노르웨이 석유관리부(NPD)에 따르면 최근 노르웨이 생산업자들은 지난 2년보다 일 평균 8만 5000배럴의 원유를 추가 생산했다. 생산은 기존 예상보다도 6% 많았다. 전망은 더욱 낙관적이다. 2017~2020년 생산은 일평균 11만배럴 증가해 8% 늘어날 것으로 보인다.
이는 노르웨이 3대 유전지대인 북해 스노레 해상 유전의 2015년 한 해 채굴량과 동일한 규모로 노르웨이의 첫 유전으로 상징적 의미가 있는 에코피스크 유전과 거의 맞먹는 양이다.
앞으로 2년 동안 노르웨이 석유 산업의 투자가 계속 줄어들겠지만 저비용과 고효율성으로 노르웨이 석유업계는 그나만 낙관적이라고 블룸버그는 진단했다.
노르디아AB의 티나 살베트 원유 전문 애널리스트는 노르웨이의 석유업계에 대해 "매우 인상적"이라며 다른 국가와 차별화된 노르웨이의 위기 대응이 빚은 결과라고 평가했다.
블룸버그는 "지난 2년 동안 7개 대형 프로젝트의 투자 비용이 절반으로 줄었고 효율성 개선으로 전망을 웃도는 생산이 가능했다"며 현재와 중단기 생산 관련한 정부의 전망 개선에 도움을 줬다고 설명했다.
벤테 닐란드 NPD 사무총장은 "이제 우리는 효율성 개선을 통해 생산량을 늘리는 것이 가능하다는 믿음을 갖기 시작했다"며 "시추 활동은 생산량 유지를 위한 석유 회사들의 높은 관심을 여실히 보여주며 이제 성과를 내고 있다. 모든 것은 비용의 문제"라고 강조했다.
일례로 노르웨이 전체 산유량의 70%를7 차지하는 국영 석유회사 스타토일(Statoil ASA)은 지난해 각 유정에서 생산 시간을 기존 40%까지 단축하고 비용을 30%까지 줄였다. 그러나 스타토일은 지난해 당초 계획보다 6개 많은 119개 유정에서 시추를 실시하는 등 2년 연속 예상을 웃도는 시추 성적을 기록했다고 올라 앤더스 스커비 스타토일 대변인은 밝혔다.
스커비 대변인은 "이는 매우 의미있는 결과"라며 "앞으로 계속 생산량과 효율성 증대를 계획하고 있고 유정 설계를 단순화하는 작업을 진행하고 있다"고 설명했다.
노르웨이의 지난해 가스 생산량은 전망보다 10% 웃돌았다. 이에 NPD는 2017년~2020년까지 가스 생산량 예상치도
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노르웨이' .. 스타트오일 국영기업
입력:1996-09-23
"국영기업 = 비효율"
각국의 산업계를 들여다보면 영락없이 이런 등식을 떠올리게 된다.
중국 러시아등 자유시장경제로 체제를 전환하고 있는 사회주의권은 물론 독일이나 프랑스등 선진 유럽에서도 국영기업은 "비효율의 화신"으로 낙인찍혔다.
이들 기업들이 맹렬히 민영화를 추진하는 것도 이때문이다.
그런데 이런 등식을 깬 기업이 있다.
노르웨이의 국영 석유업체 스타트오일(statoil)이다.
;국가의 석유라는 뜻이다.
말그대로 노르웨이의 석유수입을 국가로 끌어들이려는 목적으로 설립된 기업이 스타트오일이다.
"스타트오일은 국가가 소유한(state-owned)기업일 뿐이지 국가가 운영(state-run)하는 기업이 아니다"
이 회사의 홍보매니저 베리트리닝 오옌은 이렇게 거듭 강조한다.
소유와 경영의 철저한 분리가 스타트오일의 성공비결이란 얘기다. 실제 이 회사는 국가소유라고 해서 받는 특혜가 전혀 없다.
모든 다른 기업들처럼 경쟁의 원리로 운영된다.
북해에서 석유를 시추하기 위해서는 다른 기업과 똑같이 라이선스를 따야 한다.
단지 다른 점이라면 다른 기업들이 주주들에게 결산보고서를 내는 대신 정부에 매년 경영실적을 제출해야 한다는 점이다.
그러나 정부가 경영에 개입하지는 않는다.
모든 사업전략은 경영층에서 결정되고 정부에는 단지 보고할 뿐이다.
이런 철저한 경쟁원리 덕분에 유럽에 거세게 불고 있는 민영화
바람속에서도 스타트오일은 국영기업의 입지를 굳건히 지키고 있다.
세계 최대의 원유판매업체, 유럽대륙 최대의 천연가스 공급업체, 스칸디나비아반도 최대의 석유소매업체..
스타트오일의 최대 원유및 가스 생산지역은 물론 북해다.
그러나 국제화전략의 포커스는 아시아에 맞춰져 있다.
스타트오일은 현재 태국 해안 유전지대 방코트에서 추가 유전발굴작업을 추진중이다.
베트남 정부와 손잡고 베트남 해안 유전개발작업을 벌이고 있으며 올 1월에는 중국 남지나해 루팽 22-1유전의 지분 75%를 호주 아몰렉스로부터 인수했다.
스타트오일은 현재 35개국에 진출해 있다.
< 스타방거=노혜령기자 >
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Statoil Outlook Revised To Positive; 'A+/A-1'
Ratings Affirmed
• Statoil's cash flow generation in 2017 was stronger than we expected,primarily due to one-off factors, resulting in stronger credit metrics,including funds from operations (FFO) to debt above 60%.
• We believe that Statoil's ability to maintain this ratio in 2018-2019 will depend, apart from market conditions, on management's decisions regarding shareholder distributions and growth.
• We are revising our outlook on Statoil to positive and affirming the 'A+/A-1' ratings.
• The positive outlook reflects the likelihood of an upgrade to 'AA-' if Statoil demonstrates prudence in shareholder remuneration, which would support maintenance of FFO to debt sustainably above 60%.
Rating Action
On Nov. 14, 2017, S&P Global Ratings revised its outlook on Norwegian oil and gas producer Statoil ASA to positive from stable.
The 'A+' long-term and 'A-1'short-term corporate credit ratings were affirmed.
Simultaneously, we revised the outlook on Statoil's U.S. subsidiary Statoil US Holdings Inc. to positive from stable, in line with the parent, and affirmed
the 'A-/A-2' corporate credit ratings.
We also revised our outlook on Statoil Forsikring AS to positive from stable and affirmed the 'A' issuer credit and financial strength ratings.
Rationale
The rating actions reflect the likelihood that we would raise the long-term rating on Statoil to 'AA-' if the management takes a conservative stance on
growth and shareholder remuneration, supporting maintenance of a ratio of funds from operations (FFO) to debt sustainably above 60%.
Statoil has managed to achieve this ratio level already in 2017, earlier than we anticipated, thanks to a number of one-off factors boosting cash flow,
including lower cash taxes in Norway, positive working capital, and higher-than-expected oil prices in the second half of the year. In our base-case scenario,
we assume slightly lower operating cash flow in 2018,
based on our assumption of the $50 per barrel (/bbl) oil price.
WWW.STANDARDANDPOORS.COM/RATINGSDIRECT
Statoil also enjoyed a relatively high (above 40%) uptake on its scrip
dividend program over the past 12 months, which also helped it preserve cash.
As the scrip program was cancelled from the third quarter of 2017, we assume
Statoil will not only pay the full dividend of $3 billion per year, but will
also start share buybacks in 2018.
The company has not provided any guidance on the amount of the share buybacks,
which will be important for the evolution of the company's credit metrics. In
our base case, we assume share buybacks of $1.5 billion-$2 billion per year,
which should result in FFO to debt in the 50%-60% range. However, should
shareholder remuneration be lower or commence later than we assume, it will
have a positive impact on Statoil's credit metrics, which could in turn
provide upside to the rating.
In our revised base-case scenario for Statoil we assume:
• A Brent oil price of $50/bbl for the rest of 2017 and 2018, rising to
$55/bbl in 2019 and thereafter, in line with our price assumptions.
• Entitlement production of about 2 million barrels of oil equivalent per
day (boepd) in 2017-2018, showing material growth compared to 2017. We
expect more material production growth beyond 2019, notably with lower
breakeven levels, as many new projects come on stream, including the
massive Johan Sverdrup field on the Norwegian continental shelf with peak
production of 660,000 boepd.
• Gradually improving upstream profitability, including the impact of cost
savings, moderately increasing oil and gas prices, and a general focus on
lower operating expenditures and upstream projects with lower breakeven
prices.
• Capital expenditures (capex) of about $10 billion-$11 billion per year on
average.
• Exploration expenses of $1.5 billion.
• Cash dividend of $2.5 billion-$3.0 billion, factoring the cancellation of
the scrip dividend program from the third quarter of 2017 and implying
the resumption of full cash dividend payment from the second quarter of
2018.
• Share buybacks of $1.5 billion-$2.0 billion annually from 2018.
• No material acquisitions or asset disposals.
Based on these assumptions, we arrive at the following credit metrics:
• FFO to debt of more than 60% at year-end 2017, reducing to 50%-60% in
2018-2019.
• Reported discretionary cash flow after capex and dividends to turn
negative in 2018 and 2019.
The rating on Statoil continues to be underpinned by its strong business
position as one of the world's largest oil and gas producers with a solid
portfolio of new projects. Statoil invests heavily in exploration, and its
recent successes have allowed it to improve the life of its reserve base.
The key constraints on the rating, apart from the exposure to volatile oil
prices, include very limited downstream operations and weak diversification.
Given the very low country risk in Norway, weak diversification can also be
seen as positive, noting the higher exposure of peers to emerging markets. The
rating on Statoil also incorporates one notch of uplift from the sovereign
rating on Norway, as we believe there is a moderately high likelihood of
extraordinary government support. The state's ownership now stands at 67%, and
Statoil is the country's largest taxpayer and industrial employer. In
addition, our assessment of Statoil's stand-alone credit profile (SACP) and
financial policies are, in our view, positively influenced by state ownership.
Liquidity
The short-term rating is 'A-1'. We assess Statoil's liquidity position as
strong, which reflects its liquidity sources to uses ratio of more than 1.5x
for the coming 12 months. We also take into account Statoil's historically
prudent approach to liquidity management and strong access to the capital
markets.
Statoil's principal liquidity sources for the 12 months from Sept. 30, 2017,
are:
• Cash of $6.3 billion;
• Short-term financial investments of $11.6 billion;
• Committed undrawn bank lines of $5 billion; and
• Cash flow from operations of about $12 billion;
Statoil's principal uses of liquidity over the same period are:
• Debt maturities of $4.2 billion in the next 12 months;
• Cash capex of about $10 billion-$11 billion; and
• Cash dividend of $2.5 billion-$3.0 billion.
Outlook
The positive outlook reflects the likelihood we would raise the rating if
Statoil's management were to take a conservative stance on financial policy
and shareholder remuneration, which would support maintenance of FFO to debt
of consistently about 60%. In our base case, we assume that Statoil would
likely already achieve this level at the end of 2017 as cash flow has been
boosted by lower taxes in Norway and positive working capital movements.
However, in 2018 we think this ratio will be 50%-60%, as we project lower
operating cash flow based on an average oil price of $50/bbl. We also assume
that Statoil will pay a dividend of $3.0 billion and initiate share buybacks
of $1.5 billion-$2.0 billion per year in 2018-2019, although the company has
not given any guidance on its shareholder remuneration policy.
Upside scenario
We could raise the rating on Statoil if it generates neutral to positive cash
flow after capex and dividends, supporting maintenance of FFO to debt
sustainably above 60%.
An upgrade would also depend on market conditions remaining supportive, with
oil and gas prices remaining in line or being better than our base-case
scenario.
Downside scenario
We could revise the outlook to stable if management were to prioritize
shareholder remuneration over strong cash flow credit metrics by starting
aggressive share buybacks, raising dividends, or engaging into large-scale
acquisitions, which we do not factor into our base case.
Ratings Score Snapshot
Corporate Credit Rating A+/Positive/A-1
Business risk: Strong
• Country risk: Very low
• Industry risk: Intermediate
• Competitive position: Strong
Financial risk: Intermediate
• Cash flow/Leverage: Intermediate
Anchor: a-
Modifiers
• Diversification/Portfolio effect: Neutral (no impact)
• Capital structure: Neutral (no impact)
• Financial policy: Neutral (no impact)
• Liquidity: Strong (no impact)
• Management and governance: Satisfactory (no impact)
• Comparable rating analysis: Positive (+1 notch)
Stand-alone credit profile: a
• Likelihood of government support: Moderately high (+1 notch from SACP)
Issue Ratings
Capital Structure
Statoil's capital structure primarily consists of senior unsecured debt issued
or fully and unconditionally guaranteed by the parent.
Analytical Conclusions
Statoil's debt is rated 'A+', in line with the corporate credit rating, as no
significant elements of subordination risk are present in the capital
Related Criteria
• Criteria - Corporates - General: Reflecting Subordination Risk In
Corporate Issue Ratings, Sept. 21, 2017
• General Criteria: S&P Global Ratings' National And Regional Scale Mapping
Tables, Aug. 14, 2017
• General Criteria: Methodology For Linking Long-Term And Short-Term Ratings
, April 7, 2017
• General Criteria: Rating Government-Related Entities: Methodology And
Assumptions, March 25, 2015
• Criteria - Corporates - General: Methodology And Assumptions: Liquidity
Descriptors For Global Corporate Issuers, Dec. 16, 2014
• General Criteria: National And Regional Scale Credit Ratings, Sept. 22,
2014
• Criteria - Corporates - Industrials: Key Credit Factors For The Oil And
Gas Exploration And Production Industry, Dec. 12, 2013
• General Criteria: Methodology: Industry Risk, Nov. 19, 2013
• General Criteria: Group Rating Methodology, Nov. 19, 2013
• General Criteria: Country Risk Assessment Methodology And Assumptions,
Nov. 19, 2013
• Criteria - Corporates - General: Corporate Methodology, Nov. 19, 2013
• Criteria - Corporates - General: Corporate Methodology: Ratios And
Adjustments, Nov. 19, 2013
• General Criteria: Methodology: Management And Governance Credit Factors
For Corporate Entities And Insurers, Nov. 13, 2012
• General Criteria: Stand-Alone Credit Profiles: one Component Of A Rating,
Oct. 1, 2010
• General Criteria: Use Of CreditWatch And Outlooks, Sept. 14, 2009
Ratings List
Outlook Action; Ratings Affirmed
To From
Statoil ASA
Corporate Credit Rating A+/Positive/A-1 A+/Stable/A-1
Senior Unsecured A+ A+
Commercial Paper A-1 A-1
Statoil US Holdings Inc.
Corporate Credit Rating A-/Positive/A-2 A-/Stable/A-2
Statoil Forsikring AS
Issuer Credit Rating
Local Currency A/Positive/-- A/Stable/
Additional Contact:
Industrial Ratings Europe; Corporate_Admin_London@spglobal.com
Certain terms used in this report, particularly certain adjectives used to
express our view on rating relevant factors, have specific meanings ascribed
to them in our criteria, and should therefore be read in conjunction with such
criteria. Please see Ratings Criteria at www.standardandpoors.com for further
information. Complete ratings information is available to subscribers of
RatingsDirect at www.capitaliq.com. All ratings affected by this rating action
can be found on the S&P Global Ratings' public website at
www.standardandpoors.com. Use the Ratings search box located in the left
column. Alternatively, call one of the following S&P Global Ratings numbers:
Client Support Europe (44) 20-7176-7176; London Press Office (44)
20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm
(46) 8-440-5914; or Moscow 7 (495) 783-4009
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World's Largest Spar Platform Starts Its Journey From South Korea to Norway
By Kathleen Villaluz
April, 25th 2017
World's Largest Spar Platform Starts Its Journey From South Korea to Norway
An enormous, larger than life transportation project is currently taking place from the docks of South Korea to the Norwegian Sea. The project is for the transportation of the world's largest spar platform, called the Aasta Hansteen, by the Norwegian oil and gas giant Statoil and has started its voyage 0n the 21st of April, 2017.
The Aasta Hansteen gas field
Formerly known as the Luva gas field during its discovery in 1997, the offshore gas field was renamed in March 2012 after Aasta Hansteen, a women's rights campaigner in Norway. It is situated 300 km offshore in the Vøring area at a depth of 1,300 meters. Situated in such a far location, recovering the resources in the gas field is predicted to be demanding and exhausting as the nearest established infrastructure is hundreds of miles away. Plus the water is significantly deep with harsh and challenging weather conditions.
Location of the Aasta Hansteen gas field in the North Sea
[Image Source: Statoil]
The estimated recoverable volume of gas in the field is 47 billion standard cubic meters and that is including the Haklang and Snefrid Sør and is collectively known as the Aasta Hansteen. Naturally cooperating with the current sustainable goal of Statoil, the available gas in the field is dry and has a low carbon dioxide content. Moreover, Statoil estimates that the Snefrid Nord has a recoverable oil volume in the range of 31-57 million barrels.
The world's largest spar platform
In December 2012, Statoil's plan for development and operations (PDO) was submitted to the Ministry of Petroleum and Energy and approved in 2013. The PDO includes a spar platform which is the first gas infrastructure installation of its kind on the Norwegian continental shelf. The entire platform will weigh at a whopping 70,000 ton and is the world's largest spar structure. Just the substructure, pictured below, weighs at 46,000 ton and measures 200 x 50 meters in diameter.
The substructure and topsides of the platform were constructed by the Hyundai Heavy Industries (HHI) in South Korea. HHI describes the spar platform as 'a cylindrical, partially submerged offshore drilling and production platform that is engineered for deepwater operations'.
Spar Platform [Image Source: Hyundai Heavy Industries]
Statoil has declared that the substructure will not be lifted but floated by the Boskalis' heavy transport vessel called Dockwise Vanguard and then transported to Norway with a total journey of 14,500 nautical miles. The whole transportation will take about two months and the topsides will follow a few months later.
Once in Norway, the substructure and the 25,000-ton topsides will be connected to each other to complete the spar structure. The whole platform will then be towed to the Norwegian Sea and moored 1,300 meters deep in the Aasta Hansteen field. The spar platform is Norway's first use of steel catenary risers (SCRs), the first mechanically lined pipe installed using reel-lay in the Scandanavian country, and also the first to use synthetic rope mooring spread offshore. The substructure is equipped with storage for condensate and will be loaded onto shuttle tankers at the field.
The original plan was to start production in the field by the third quarter of 2017 but was postponed in October 2015 because of the platform's construction delays. Now, the new scheduled gas production will begin in 2018.
Continue to follow the Aasta Hansteen's platform voyage via Statoil's YouTube channel and Instagram page.
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Statoil opened its country office in South Korea in 2014, and the office is currently supporting the teams supervising the construction of topsides for the Mariner and Aasta Hansteen platforms, the Aasta Hansteen hull, two Category-J rigs, and two platforms for Johan Sverdrup.
STATOIL ESTABLISHED IN SOUTH KOREA
200 METRES
LENGTH OF THE SPAR HULL FOR AASTA HANSTEEN CURRENTLY UNDER CONSTRUCTION AT HHI
Building our rigs and platforms
Picture of the Valemon Topside at the Samsung shipyard in South Korea
Our activities in South Korea focus on the construction of the vast platforms and vessels used to find, produce and transport oil and gas. Several of these installations are currently being built at South Korean shipyards:
Mariner topsides are under construction at Daewoo Shipbuilding & Marine Engineering (DSME) on the island of Geoje.
Two category J drilling rigs for the Oseberg and Gullfaks fields are under construction at Samsung Heavy Industries (SHI), also on Geoje.
SHI has recently delivered the Valemon topside and Heidrun FSU, and is currently fabricating two out of four topsides at the Johan Sverdrup field.
The Aasta Hansteen topside and hull are under construction at Hyundai Heavy Industries (HHI) near the city of Ulsan.
Statoil has personnel in South Korea to supervise all these projects. South Korea has previously delivered the following constructions: Gina Krog topside and Mariner FSU (in Uune 2016), the Valemon topside (delivered in June 2014), the Heidrun storage vessel (delivered in March 2015) and hulls for the Gjøa, Kristin and Åsgard B platforms. DSME has also built four category D rigs for the owner Songa. They have been designed by and will be in operation for Statoil.