Det Norske Oljeselskap ASA : Ivar Aasen ready for the journey home

22. May 2016

(Singapore, 22 May 2016) The platform deck for the Ivar Aasen field was completed at the yard in Singapore on Sunday and will sail away to Norway shortly. The platform deck was delivered on budget and on time, which entails that the field development is on track for start-up of production on 1 December.

'The Ivar Aasen field is a very important development on the Norwegian shelf and for Det norske as operator. We are thus very pleased to complete the platform deck on budget and on the agreed time. The work that has been carried out in Singapore is of very high quality, and this project is an example of a successful global supplier collaboration for creating value on the Norwegian shelf,' says Karl Johnny Hersvik, CEO of Det norske.

The platform deck has now been moved from SMOE's yard area to the Cosco vessel the Xiang Rui Kou, which will transport the installation to the Ivar Aasen field located on the Utsira Height in the North Sea. On the Utsira Height, the platform deck will be lifted onto the jacket, which has been constructed in Sardinia, and the living quarters, which were built at Stord.

'At the most, more than 2,300 persons representing 35 nationalities have been working with the project. After close to 15 million working hours no serious incidents have been registered, which we are very proud of. We have had a good, close collaboration between Det norske as operator and the SMOE company Sembawang, where we are delivering on budget and without serious personal injuries,' says Project Manager for the platform deck Snorre Fossum.

The platform deck for Ivar Aasen will be sailed away from port in Singapore in early June and will arrive in Norway one month later.

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For further information, please contact
Rolf Jarle Brøske, SVP Communications, tel. [phone]

Ivar Aasen
The Ivar Aasen field is located west of the Johan Sverdrup field in the North Sea and contains approximately 204 million barrels of oil equivalent, included the Hanz deposit. The economic life of the Ivar Aasen field could be 20 years, depending on oil prices and production trends. The operator is Det norske, holding a 34.8 per cent ownership interest.

Det norske
Det norske is a fully-fledged E&P company with exploration, development and production activities on the Norwegian Continental Shelf. We are building one of Europe's largest independent E&P companies. Det norske is the operator of the producing Alvheim field and for the development of the Ivar Aasen field. The company is also partner in the Johan Sverdrup field. Det norske pursues an active exploration programme on the Norwegian shelf and an ambitious strategy for continued growth. Det norske is headquartered in Trondheim with branch offices in Stavanger, Oslo and Harstad. Det norske is listed on Oslo Børs.