Aker Solutions has secured a five-year contract extension from Exxon Mobil Canada Properties on July 28 for the provision of engineering, procurement and construction (EPC) services for the Hebron platform, offshore Newfoundland.
The contract is an extension for a five-year period, starting in the summer of 2020. Aker Solutions has provided EPC services to Hebron since 2015. The work will be led from Aker Solutions’ premises in St. John’s, Newfoundland and Labrador.
Aker Solutions estimates the contract value to be NOK 1.4 billion (US$154 million), which will be booked as order intake in the third quarter of 2020.
“We are delighted to be extending our strong relationship with Exxon Mobil in Canada, and to further strengthen the international footprint of our brownfield services business,” Linda Aase, executive vice president, brownfield projects, at Aker Solutions, said.
Russian oil and gas condensate output increased to 9.8 million barrels per day (MMbbl/d) on Aug. 1-2 from 9.37 MMbbl/d in July.
More expensive rail transport would move crude if the pipeline is shut down for a year.
Average U.S. daily oil output will fall below 2019’s record 12.2 MMbbl/d for the next two to three years, analysts said.