Aker Solutions has secured a contract extension with Equinor in Norway to continue providing maintenance and modification services (M&M) on the Johan Sverdrup field in the North Sea.
"The extension of the call off is done in accordance with an existing frame agreement that lasts until February 2026. The contract value is considered as sizeable," Aker Solutions said.
Aker Solutions defines a sizable contract as between NOK 0.5 billion and NOK 1.5 billion, or as it currently stands, between 49,1 million and 147,4 million U.S. dollars.
Aker Solutions has been a contractor on the Johan Sverdrup field and delivered several offshore platforms and has been involved in all project development stages of Johan Sverdrup. Since the oil and gas production started in 2019 Aker Solutions has delivered M&M-services under an existing agreement.
"The extension is given to secure coordination and exploit the synergies in ongoing project activities. The contract will be managed from Stavanger, and prefabrication will be done at the yard in Egersund," Aker Solutions said.
Paal Eikeseth, executive vice president and head of Aker Solutions' electrification, maintenance, and modifications business said: "We are happy to continue our long-term cooperation with Equinor on the Johan Sverdrup field, the third largest on the Norwegian continental shelf. Aker Solutions has already been deeply involved through all phases from early engineering through construction and project execution and hook-up and commissioning of this giant field. C
"Continuity of personnel and systematic knowledge is essential to deliver the best and safest maintenance and modification services moving forward."
It is expected that the Johan Sverdrup field will deliver oil and gas for over 50 years. In the first production year, the field produced oil and gas with 90 percent lower CO2 emissions than the average global level, (measured in kg CO2 per barrel produced), the company said.
At peak, Aker Solutions said, it is projected that Johan Sverdrup can produce up to 30 percent of the total oil and gas production on the Norwegian continental shelf, and is expected to deliver resources of 2.7 billion barrels of oil equivalents.