Aker Bags Equinor Deal

Aker Solutions revealed Monday that it has won a framework agreement with Equinor (NYSE: EQNR) to provide maintenance and modifications services at the Peregrino field, offshore Brazil.

The value of the deal depends on the amount of work requested by the client, according to Aker Solutions, which did not provide any more information on how much the agreement was worth. The contract has a fixed period of four years and includes an option for a two-year extension.

Aker Solutions describes Brazil as a vital market where the company sees opportunities for several types of deliveries. The company said its strategy is to use its subsea manufacturing facilities in the country as a hub to serve both local projects and international developments.

“We are excited to build on our strong relationship with Equinor,” Linda Litlekalsøy Aase, the executive vice president of electrification, maintenance and modifications at Aker Solutions, said in a company statement.

“Together we will ensure safe and successful operations in Brazil, work to extend the lifetime of Equinor´s assets and find low-carbon solutions where possible,” the Aker Solutions representative added.

Aker Solutions has won several subsea contracts from Equinor in recent years. This includes projects such as Johan Castberg, Troll and Breidablikk in Norway. 

The Peregrino oil field is Equinor’s largest international operation outside of Norway, according to the company’s website. Peregrino is located in licenses BM-C-7 and BM-C-47 in the Campos basin, in water depths of 328 feet. The second phase of the project, which is due to start production next year, is expected to be developed at a cost of $3.5 billion.

Aker Solutions engineers the products, systems and services required to unlock energy, according to its website. The business employs 15,000 people and is present in more than 50 locations, its website shows.

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