IKM Receives Two Contracts for Martin Linge Field from Total Offshore Norway

Total E&P Norway AS has awarded IKM Operations AS MIEC (Maintenance and Inspection Engineering Services) and GMC (General Maintenance Services) contracts for Martin Linge field.

Estimated contract value is approximately NOK 400 million.

The contracts involve a comprehensive Maintenance and Inspection Engineering requiring close coordination with other parties involved in the Martin Linge project, such as EPC contractor Technip, including Samsung Heavy Industries (SHI) where construction work is performed.

MIEC contract will start immediately and will last for approximately three years. GMC contract has duration of 5+1×2 years.

 Facts about Martin Linge:

• The field is located in the North Sea, 42 kilometers west of the Oseberg field and 180 kilometers west of Bergen

• In water depth of 115 meters

• Estimated reserves are 190 million barrels of oil equivalent

• Planned production start is in the fourth quarter of 2016

Martin Linge field will consist of:

• A production platform

• A storage vessel for oil (FSO)

. 50 MW AC electrical power from shore via a 160 kilometer long cable

• A 24” gas export pipeline

• A control center on land in Stavanger.

Total E & P Norway AS is the operator and holds 51%, Petoro holds 30% and Statoil holds 19%.

[mappress]

Press Release, April 7, 2013