Equinor, Aibel Pen 10-Year Collaboration Agreement

May 13, 2022

From left, Chief Procurement Officer Mette H. Ottøy (Equinor), EVP for Projects, Drilling & Procurement Geir Tungesvik (Equinor), President and CEO Mads Andersen (Aibel) and EVP Modifications and Yard Services Nils Arne Sølvik (Aibel). Photo: Kjetil Eide/Equinor
From left, Chief Procurement Officer Mette H. Ottøy (Equinor), EVP for Projects, Drilling & Procurement Geir Tungesvik (Equinor), President and CEO Mads Andersen (Aibel) and EVP Modifications and Yard Services Nils Arne Sølvik (Aibel). Photo: Kjetil Eide/Equinor

Norwegian energy company Equinor has entered into a ten-year strategic collaboration agreement with the offshore engineering and construction firm Aibel.

"The ten-year agreement aims to ensure predictability, which will be important to both parties in times of many great and important opportunities," Equinor said.

"For several years Aibel has been one of Equinor’s key collaboration partners. As an example, they were awarded the majority of contracts for further development of mature fields on the Norwegian continental shelf (NCS) in 2020 and 2021. Equinor has contributed to a major share of Aibel’s earnings, and the companies have for several years worked on a joint improvement effort to strengthen safety and efficiency in the projects," Equinor said.

"Equinor has clear ambitions for the energy transition, and we have a high activity level in oil and gas, renewables and low-carbon technologies. Through this strategic collaboration agreement we create security for both parties, giving Aibel an opportunity to get more assignments, while we know that we will be able to deliver our projects with the high quality that Aibel is known for and we depend on to succeed,” says Geir Tungesvik, executive vice president for Projects, Drilling & Procurement.

Aibel is Equinor’s key supplier of maintenance and modification services on offshore and onshore installations. The framework agreement with Aibel on these services was recently extended to March 2026. 

Mads Andersen, CEO of Aibel, said:"Aibel and Equinor have for a long time had a close and good collaboration on the NCS, and the new collaboration agreement forms the basis for a long-term continuation of this relationship. The agreement offers Aibel predictability and a better foundation for long-term planning and competence development with less vulnerability to market fluctuations. I am therefore convinced that the agreement will contribute to better, safer and not least more cost-effective deliveries benefitting both parties,” says Andersen.

Apart from the oil and gas side of work Aibel has been working on offshore converter platforms to be delivered to, for example, the Dogger Bank A, B and C offshore wind farms in the UK. In addition, Aibel has several times been assigned to perform hook-up of high-voltage systems offshore, such as electrification of Johan Sverdrup and Wisting.

The companies said they would keep pursuing opportunities for standardization and simplification in both offshore wind and electrification of oil and gas installations. 




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