Statoil Extends Well Services Contract with Aker

Norwegian oilfield service firm Aker Solutions announced Thursday that its client Statoil will extend an existing contract for the provision of well services by Aker to Statoil for a period of two more years. The initial three-year contract, which started in 2009, was to supply mechanical wireline services on Statoil operated fields and mobile drilling units on the Norwegian Continental Shelf.

Aker said that it estimates the two-year extension will generate revenues for it of up to $140 million (NOK 800 million) and the contract will keep around 400 of its staff in employment – 60 percent of whom will support Statoil offshore.

"Our cooperation with Statoil within the mechanical wireline segment dates back to 1984. This partnership has helped build up and continuously develop a highly competent well service community on the Norwegian continental shelf. Statoil has the world's highest recovery rates for offshore oil and gas assets and we are proud to be a supplier to their success," Rolf Leknes, head of Aker Solutions' Scandinavian well intervention services business, said in a statement.

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