Photo: Vår Energi

IKM Elektro to take care of Vår Energi assets in next five years

Norwegian oil and gas company Vår Energi has entered into an agreement with IKM Elektro to support all of its operated facilities on the Norwegian continental shelf (NCS).

The agreement covers inspection, service, and maintenance of electrical equipment and rotating machines, and will optimize daily operations and maintenance work offshore, Vår Energi explained on Tuesday.

IKM Elektro is well acquainted with Vår Energi’s portfolio, which includes ownership in 35 producing fields on the NCS, from previous collaborations.

In addition to inspection, service and maintenance of electrical equipment and rotating machines, ignition source and condition control are also included in the framework contract. The agreement has a duration of up to five years including options.

VP Contracts and Procurement in Vår Energi, Annethe Gjerde, said: “The company is Norwegian with a strong local presence together with us in the Stavanger region and in Hammerfest. We know IKM Elektro from previous work and look forward to continued close collaboration, now on deliveries to all our installations on the shelf.”

Vår Energi emphasised that its aim is to use Norwegian and local suppliers where possible to ensure optimal logistics solutions, reduced CO2 emissions, and the creation of local ripple effects.

Managing Director of IKM Elektro, Carl-Johan Almestad, pointed out that the new contract will build on the foundation of collaboration between the two companies established in 2015.

In related news, Vår Energi earlier this month announced the refinancing of its existing reserved based lending facility with a $6 billion unsecured corporate credit facility provided in equal proportions by 12 international banks.