Nexans has been awarded a letter of intent by Equinor for the fabrication of umbilicals for the Askeladd Vest project. Equinor and its partners - Petoro, Total, Neptune and Wintershall Dea - have decided to develop Askeladd Vest, which is in the southern Barents Sea. The investment is close to NOK 3.2 billion.

Nexans will provide static subsea umbilicals with a complex cross-section comprising of power, fiber-optic communications and hydraulic elements for chemical injection, together with a range of connection and termination accessories.

The control cables will be assembled at Nexans' plant in Halden and unloaded on installation vessels, and fiber optic cables and power cables will be manufactured in Rognan. The contract value is estimated at around NOK 100 million and will provide around 10 man-years in Norway.

The Askeladd Vest development is a profitable development and will provide 134 million barrels of oil equivalent.

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Nexans SA published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2021 16:14:00 UTC.