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Aker Solutions Signs NOK 4.4 Billion Frame Agreement Contract with Statoil

Aker Solutions

Statoil has awarded Aker Solutions a frame agreement for maintenance and modifications on their offshore installations Snorre A/B, Gullfaks A/B/C, Visund and Åsgard A/B in Norway. The contract period is for four years and includes options for further extensions up to four years. The yearly volume of the contract will fluctuate, but Aker Solutions estimates the typical volume to be approximately NOK 1.1 billion per year.

"We are very pleased that we have been awarded these parts of Statoil's maintenance and modifications (M&M) frame agreements portfolio. It falls within our core business and will be delivered from our following main locations; Stavanger, Bergen and Trondheim, all are strong local hubs for our operations along the Norwegian west coast", says Stian Vemmestad, president of Maintenance, Modifications and Operations in Aker Solutions.

Statoil announces today, the new frame agreements for their entire M&M portfolio on the Norwegian Continental Shelf (NCS). Aker Solutions is a key provider within MMO services in the North Sea, and has a long track record in undertaking maintenance and modifications services on several of Statoil's offshore installations on the NCS and onshore plants.

"We are pleased that Statoil renews their trust in our services. Our core competence, solid front end and technology environment, together with our adaptable organisation, make us highly competitive in the MMO market.

"Our ambition is to contribute to world-class HSE results for Statoil, focus on quality in our deliveries, work continuously to increase our competence and work constantly to make our work processes more efficient", says Vemmestad.

Scope of work will typically involve engineering, procurement, construction, installation (EPCI) and completion of modifications, maintenance, studies and prefabrication.

Aker Solutions M&M services will be executed from Stavanger, Bergen, and Trondheim.

Preparations activities will start immediately.

The contract parties are Aker Solutions' subsidiary Aker Offshore Partner AS and Statoil Petroleum AS.

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK54 billion and employs approximately 22 000 people in about 30 countries.

Aker Solutions is part of Aker (, a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.

Published 30/06/2010

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