Aker Solutions, Petrobras in Frame Agreement for Supply of Subsea Production Systems

OEDigital
Monday, November 7, 2022

Norway's Aker Solutions has been awarded a frame agreement from Brazil's Petrobras and partners to provide subsea production systems (SPS) and subsea lifecycle services (SLS) for Petrobras-operated oil and gas fields offshore Brazil.

The frame agreement has a fixed period of five years, from the fourth quarter of 2022 to the fourth quarter of 2027. 

The scope of the agreement covers the delivery of complete subsea  production systems, including equipment such as subsea trees, the subsea controls called “Vectus”, subsea  distribution units and spare parts.

"Over the duration of the frame agreement, it is estimated that the number of subsea trees to be called off could be up to 33 trees. This estimate does not represent a minimum or maximum amount," Aker Solutions said.

The scope also covers the full range of subsea lifecycle services. This will include  intervention, preservation, and maintenance, as well as installation services.

"Brazil is a key offshore market globally and we look forward to continuing our long-standing relationship with Petrobras,” said Maria Peralta, executive vice president and head of Aker Solutions' subsea business.

The work under the frame agreement will be call-off based. 

Aker Solutions expects to initially book a "significant" order intake in the fourth quarter of 2022 in the Subsea segment,  representing an estimate of the expected initial work to be called-off.  Aker Solutions defines a significant contract as being between NOK 1.5 billion ($146,58 million) and NOK 2.5 billion ($244,3 million).

According to the company, the full potential under the five-year fixed period of the frame agreement could represent "substantial" order intake over  time. This range does not represent a minimum or maximum amount, the  total value will depend on the customer's future demands. Aker Solutions defines a substantial contract as being between NOK 2.5 billion ($244,3 million) and NOK 4.0 billion ($390,75 million).

Categories: Energy Subsea Industry News Activity Production South America

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