Aker Solutions has secured a significant three-year contract extension to an existing framework agreement for work at North Sea fields operated by ConocoPhillips Skandinavia AS, according to the company's release.
Aker Solutions will continue as ConocoPhillips' main supplier of maintenance and modifications work offshore Norway. The agreement runs from January 2024 until the end of 2026.
The contract value will be determined by future call-offs for maintenance and modifications work and could range between NOK 500 million and NOK 800 million per year. This estimate does not represent a minimum or maximum amount and is subject to change.
The work will be managed and executed by Aker Solutions’ office in Stavanger and fabrication yard in Egersund, as well as providing work for the company’s offshore employees.
The contract will be booked as order intake in the second quarter of 2022 in the Electrification, Maintenance and Modifications segment.
Aker Solutions defines a significant contract as being between NOK 1.5 billion and NOK 2.5 billion.