Aker Solutions and Petrobras ink subsea frame agreement

Aker Solutions and Petrobras ink subsea frame agreement

Aker Solutions has secured a frame agreement to provide subsea production systems (SPS) and subsea lifecycle services (SLS) for Petrobras-operated oil and gas fields offshore Brazil.

Aker Solutions

The scope covers the delivery of complete subsea production systems, including equipment such as subsea trees, Vectus – the company’s latest generation of subsea controls, subsea distribution units and spare parts.

The agreement also covers the full range of subsea lifecycle services, including intervention, preservation, maintenance, and installation services.

The service work will be managed from Aker Solutions’ service base in Rio das Ostras in Rio de Janeiro, Brazil.

The frame agreement has a fixed period of five years, from the fourth quarter of this year to the fourth quarter of 2027. Over the duration of the agreement, it is estimated that the number of subsea trees to be called off could be up to 33.

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“Brazil is a key offshore market globally and we look forward to continuing our long-standing relationship with Petrobras,” said Maria Peralta, executive vice president and head of Aker Solutions’ subsea business. “This landmark frame agreement is a testimony to the quality our skilled employees have delivered over time in Brazil and the value our subsea solutions and services.”

The work under the frame agreement will be call-off based.

Aker Solutions expects to initially book a significant order intake (between NOK 1.5 billion and NOK 2.5 billion) in the fourth quarter of 2022 in the Subsea segment, representing an estimate of the expected initial work to be called-off.

The full potential under the five-year fixed period of the frame agreement could represent substantial order intake over time (between NOK 2.5 billion and NOK 4 billion), the company said.