Aker Solutions has secured a three-year contract extension to an existing framework agreement on Sept. 11 for work at North Sea fields operated by ConocoPhillips.
The company will continue as ConocoPhillips’ main supplier of maintenance and modifications work offshore Norway. The agreement runs from January 2021 until the end of 2023.
The contract value will be determined by future call-offs for maintenance and modifications work and could range between NOK 300 million (US$33.1 million) and NOK 700 million (US$77.4 million) per year. The range does not represent a minimum or maximum amount and is subject to change.
“We look forward to delivering new projects and services to one of the largest maintenance and modifications portfolios offshore Norway,” Kjetel Digre, CEO of Aker Solutions, said.
The work will be managed and executed by Aker Solutions’ office in Stavanger and fabrication yard in Egersund. The agreement will also provide work for the company’s offshore employees.
The contract will be booked as order intake in the third quarter of 2020.
Recommended Reading
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.
TotalEnergies, Vanguard Renewables Form RNG JV in US
2024-04-24 - Total Energies and Vanguard Renewable’s equally owned joint venture initially aims to advance 10 RNG projects into construction during the next 12 months.
Ithaca Energy to Buy Eni's UK Assets in $938MM North Sea Deal
2024-04-23 - Eni, one of Italy's biggest energy companies, will transfer its U.K. business in exchange for 38.5% of Ithaca's share capital, while the existing Ithaca Energy shareholders will own the remaining 61.5% of the combined group.
EIG’s MidOcean Closes Purchase of 20% Stake in Peru LNG
2024-04-23 - MidOcean Energy’s deal for SK Earthon’s Peru LNG follows a March deal to purchase Tokyo Gas’ LNG interests in Australia.
Marketed: Stone Hill Minerals Holdings 95 Well Package in Colorado
2024-02-28 - Stone Hill Minerals Holdings has retained EnergyNet for the sale of a D-J Basin 95 well package in Weld County, Colorado.