Aker Wins Major Subsea Deal with Statoil

Norwegian oilfield services firm Aker Solutions reported Wednesday that it has been awarded a "major" frame agreement with Statoil to deliver subsea operation and services on the Norwegian continental shelf. The deal will see the expansion of Aker's Aagotnes facility on the west coast of Norway.

Aker said that it had booked some $1 billion of orders as a preliminary estimate of the work to be generated in the initial five-year period of the agreement, which has three additional three-year options for extension.

The subsea operations and services covered by the agreement include: subsea equipment, maintenance, upgrade and recertification of tools and installed equipment. The agreement includes workover activities and life extension of subsea wells.

"Aker Solutions has worked with Statoil for decades and we are very honoured by this major award. We are not only refurbishing subsea trees to guarantee an extended lifetime, but we are also upgrading to accommodate more functionality, enabling Statoil to increase production capacity from each well," said Alan Brunnen, head of Aker Solutions' subsea business division.

Aker Solutions' facility at Aagotnes, near Bergen on the west coast of Norway, will support the Statoil projects. As a result of the frame agreement, Aker expects to further develop its service base at the facility in 2013 and 2014 with new workshops, increased logistics capability and a new office block.

Aagotnes currently employs approximately 800 people.

The agreement will see Statoil immediately execute a subsea refurbishment project to be performed by Aker on the Troll field, located in the northern part of the North Sea approximately 40 miles west of Kollsnes in Norway.



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