Norway's Statoil reported Thursday that it has exercised options worth $1.6 billion between 2014 and 2016 with nine suppliers.
The suppliers provide a range of services, including maintenance and modification (M&M) as well as isolation, scaffolding and surface protection (ISS) suppliers.
The M&M work is for 22 facilities offshore and onshore, while the ISS work is for 20 facilities.
"Statoil wants competent suppliers which can contribute to safe and efficient operations. The exercising of the options is based on an assessment of several factors, such as experience, future needs, market development, HSE and quality. These contract extensions will have ripple effects in Norwegian industry," Statoil Chief Procurement Officer Jon Arnt Jacobsen said.
Companies awarded options by Statoil include: Aibel AS, Aker Solutions MMO AS, Reinertsen AS, Fabricom AS, Apply Sørco AS, Linjebygg Offshore, Beerenburg Corp, Kaefer Energy and Bilfinger Industrier.
Statoil also reported Thursday that it has appointed Ame Sigve Nylund as its new executive vice president for development and production Norway.
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