Aker Solutions Grabs Statoil Subsea Prize

  • Business & Finance

Aker Solutions has secured a framework agreement to provide subsea services for Statoil-operated oil and gas fields offshore Norway.

The contract has a fixed period of five years, starting in the first quarter of 2018, and contains five four-year extension options. Its value depends on the amount of work ordered by Statoil under the agreement. This is currently estimated at about NOK 3 billion ($360.6 million) for the fixed period and will be booked in fourth-quarter orders.

The agreement provides work for Aker Solutions’ services bases in Ågotnes on the west coast of Norway and Hammerfest, located on the country’s northern tip.

“These contracts illustrate the strength of the subsea services presence we have built across Norway,” said Aker Solutions CEO Luis Araujo. “We look forward to delivering to such a key customer as Statoil and playing a part in further building Norway’s newest oil and gas region in the far north.”

The contract scope covers subsea lifecycle services, including offshore installation and retrieval of equipment, maintenance, engineering and operations support.

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