Norwegian energy industry services provider Aker Solutions has won a three-year contract extension to a maintenance and modifications frame agreement it has with Equinor.
"The agreement for work on oil and gas installations offshore Norway represents a very large order intake for Aker Solutions," Aker Solutions said.,
Aker Solutions defines a very large contract as being between NOK 2.0 billion (~$226 million) and NOK 3.0 billion (~$339 million).
"Maintenance and modifications are crucial to ensure safe and efficient operations of customer’s installations and facilities. Aker Solutions has delivered maintenance and modifications work for Equinor on this frame agreement since first-quarter 2016. Work under the extension option will start upon completion of the existing period during the first quarter of 2023," the company said,
The contract provides work for Aker Solutions' operations in Trondheim, Bergen, and Stavanger in particular, and will be managed from the company’s offices in Trondheim.
Earlier this week, Aker Solutions raised its 2022 revenue outlook said it expected earnings margin to increase this year and that order intake was headed for a record high. Read more.