Statoil awarding framework agreements for maintenance and modifications

Statoil has today awarded maintenance and modification agreements worth NOK 24 billion for the company’s installations on the Norwegian continental shelf (NCS) and for the onshore plants at Sture, Kollsnes, Kårstø and Melkøya.

Competition agreements for more complex modification services have also been awarded. Maintenance and modifications are essential for safe and efficient operation of Statoil’s offshore and onshore installations. New compensation formats have been prepared to encourage continuous improvement and higher productivity.

This time the company decided to split the whole portfolio in two: main contractor agreements and competition agreements. The key supplier agreements portfolio has an estimated total value (including options) of NOK 24 billion. The contract period is six years plus a four-year extension option, and starts in the first quarter of 2016. Remaining options of existing maintenance & modifications agreements will not be exercised.