Apply to Support Lundin’s Edvard Grieg Development

Apply has secured three new contracts for Lundin Norway; Maintenance and Modifications Contract, Risk Based Maintenance Contract and Contract for Pre-Operational Work. The M&M Contract has an estimated annual value of approximately 100 million NOK and a duration of 8 years including contract options.

Apply to Support Lundin's Edvard Grieg Development

Together, the contracts will contribute to strengthening Apply’s position as an operational partner and M&M contractor on the NCS.

In order to realize synergies between preparation for operation, production start-up and the maintenance and modification phase, the contracts will be organized as one cohesive portfolio of contracts for Lundin. With the knowledge that Apply accumulates through development of system descriptions, operations procedures and maintenance analyses and programs for the asset, Apply will deliver an extensive operation support service to Lundin as operator on the Edvard Grieg field.

The contracts will strengthen Apply’s position related to offshore fields in operation and we especially appreciate that synergies through our capabilities related to operational preparedness, operations support and M&M project execution can be realized,” says Frederik Hvistendahl, Managing Director of Apply Sørco. “We look forward to further developing the excellent relationship that has been established with Lundin through the ongoing contract for the Edvard Grieg Living Quarter Module and contributing to safe and efficient start-up and execution of maintenance and modification assignments in the future.

The pre-operational work started in October this year and will continue to the field start-up phase. Activities related to maintenance analyses run for a period of 1,5 years while M&M activities have a maximum duration of 8 years. In Apply, the contracts will during normal operations employ approx. 170 persons on an annual basis and represent an important contribution to the back log of activities in Apply Sørco, which this year will deliver record high turnover.

Apply Sørco is a company in the Apply group, a leading supplier of services and technology to the oil and gas industry. The group consists of three business areas: Upstream Facilities, Living Quarters & Helidecks and Rig & Modules. In 2012 Apply had a turnover of 3,1 billion NOK. The present manning is 1600 employees, of whom 900 are employed within engineering services and project management. The private equity investor HitecVision and the investment company Køhlergruppen are Apply AS’s principal owners.

Press Release, December 20, 2013