$10 billion awards spree: Seven players split Equinor’s multibillion-dollar contracts’ cake

January 8, 2026, by Melisa Cavcic

Norway’s state-owned energy giant Equinor has handed out multiple framework agreements to seven Norwegian supplier companies, including Aibel, Aker Solutions, Wood, Rosenberg Worley, Head Energy, Apply, and IKM Gruppen, with a total value of around NOK 100 billion (approximately $9.9 billion).

Sleipner field in North Sea; Credit: Øyvind Gravås and Bo B. Randulff/Equinor

The five-year 12 new framework agreements for maintenance and modifications on the company’s offshore installations and onshore plants are slated to begin in the first half of 2026, and entail extension options of three and two years. These deals are interpreted to create predictability and ripple effects for the Norwegian supplier industry across the country.

In addition, the contracts are perceived to lay the foundation for safe and competitive operations at Equinor’s offshore installations and onshore plants in the years to come. The agreements cover seven suppliers, three of which are new players in maintenance and modifications.

With the aim of supporting the ambition of maintaining production around 1.2 million barrels of oil equivalent per day (2020 level) on the Norwegian Continental Shelf (NCS) towards 2035, Equinor plans to invest about NOK 60–70 billion (around $6-$7 billion) annually in increased recovery and new fields on the NCS.

The firm will drill around 250 exploration wells and about 600 wells for increased recovery, perform 300 well interventions annually and around 2,500 modification projects, and mature and develop over 75 subsea developments that could be tied to existing infrastructure.

The company also plans to reduce its own greenhouse gas (GHG) emissions towards nearly 50% by 2030, compared to 2015 figures, while delivering stable and predictable energy supplies to Europe. Additionally, the firm intends to invest in maintenance and modifications at installations and onshore facilities to strengthen safety and maintain high regularity, while reducing climate and environmental footprints.

Kjetil Hove, Executive Vice President for Norwegian Continental Shelf at Equinor, commented: “The Norwegian Continental Shelf will remain the backbone for Equinor for a long time. Our ambition is to maintain a high production level and predictable energy deliveries to Europe towards 2035. At the same time, the shelf is entering a mature phase that will require new solutions.

“To succeed, we must, together with the supplier industry, find new ways of working that strengthen our competitiveness. These agreements facilitate long-term collaboration and continuous improvement on core tasks at Equinor’s offshore installations and onshore facilities in Norway.”

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Equinor awarded maintenance and modifications for installations on the Norwegian Continental Shelf to Aibel for Sleipner, Gudrun, Draupner, Gullfaks, Visund, Oseberg, Martin Linge, Aasta Hansteen, Norne, Johan Castberg, and Snøhvit; Aker Solutions for Johan Sverdrup, Grane, Troll, Kvitebjørn, Valemon, Kristin, Åsgard, Heidrun, and Njord; and Wood Group Norway for Snorre.

The Norwegian state-owned operator hired two firms for maintenance and modifications for onshore plants in the country. These are Aibel for Hammerfest LNG, Mongstad, Kårstø, and Tjeldbergodden; and Aker Solutions for Øygarden (Kollsnes and Sture). Equinor also picked Aibel, Aker Solutions, Apply, Wood Group Norway as suppliers qualified as bidders for upcoming tenders for large modifications (extended projects) related to installations on the NCS and the onshore plants.

When it comes to maintenance and simple projects for selected installations on the NCS, the operator selected Rosenberg Worley for Sleipner and Johan Sverdrup; Head Energy for Gullfaks, Oseberg, and Troll; and IKM Gruppen for Åsgard and Heidrun. The final portfolio distribution will be assigned when the contracts are signed, which is planned in week four.

Jannicke Nilsson, Chief Procurement Officer at Equinor, remarked: “These are strategically important agreements, and collectively among the largest Equinor has awarded. The agreements will ensure long-term activity and value creation across Norway, with job creation estimated at around 4,000 man-years at the suppliers.

“The goal is close, long-term, and predictable cooperation that strengthens the culture for safety and security and our shared competitiveness. Together, we will work safer and smarter, and scale up the use of new technology.”