Aker Solutions has as one of several suppliers been awarded a frame agreement with Statoil for the delivery of subsea operations and services on the Norwegian continental shelf.

Subsea operations and services covers installation of subsea equipment, maintenance, upgrade and recertification of tools and installed equipment. It also includes workover activities and life extension of subsea wells.

The size of the frame agreement is dependent on call-offs and the number of projects that Statoil decides to execute.

The frame agreement with Statoil is signed for the duration of five years with three additional three year options (5+3+3+3). Aker Solutions has booked NOK 5.5 billion of order intake as a preliminary estimate of the work to be generated in the initial five year period, of which NOK 230 million (USD 42 million) was booked in the fourth quarter of 2012 due to prior commitments from Statoil.

"Aker Solutions has worked with Statoil for decades and we are very honoured by this major award. We are not only refurbishing subsea trees to guarantee an extended lifetime, but we are also upgrading to accommodate more functionality, enabling Statoil to increase production capacity from each well", says Alan Brunnen, head of Aker Solutions' subsea business area.

Tags: Aker Solutions