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Aker Solutions Secures Continuity as Maintenance and Modifications Contractor on Johan Sverdrup

November 18, 2022

Aker Solutions continues to serve as supplier of maintenance and modification services (M&M) on the Johan Sverdrup-field. The extension of the call off is done in accordance with an existing frame agreement that lasts until February 2026. The contract value is considered as sizeable [1]. Photo: Equinor

Aker Solutions has been a significant contractor on the Johan Sverdrup field and delivered several offshore platforms and has been involved in all project development stages of Johan Sverdrup. Since the oil- and gas production started in 2019 the company had delivered M&M-services under an existing agreement. The extension is given to secure coordination and exploit the synergies in ongoing project activities. The contract will be managed from Stavanger and prefabrication will be done at the yard in Egersund.

"We are happy to continue our long-term cooperation with Equinor on the Johan Sverdrup field, the third largest on the Norwegian continental shelf. Aker Solution has already been deeply involved through all phases from early engineering through construction and project execution and hook-up and commissioning of this giant field. Continuity of personnel and systematic knowledge is essential to deliver the best and safest maintenance and modification services moving forward,” said Paal Eikeseth, executive vice president and head of Aker Solutions' electrification, maintenance and modifications business.

It is expected that the Johan Sverdrup field will deliver oil and gas for over 50 years. In the first production year the field produced oil and gas with 90 percent lower CO2 emissions than average global level, (measured in kg CO2 per barrel produced). At peak, it is projected that Johan Sverdrup can produce up to 30 percent of the total oil and gas production on the Norwegian continental shelf, and is expected to deliver resources of 2.7 billion barrels of oil equivalents.

“We experience that our customer Equinor looks forward to continuing the collaboration and to secure good deliveries together with us”, said Eikeseth.

Aker Solutions will book an order intake in the lower part of the sizeable¹ range in the fourth quarter of 2022 in the Electrification, Maintenance and Modifications segment.

¹Aker Solutions defines a sizable contract as between NOK 0.5 billion and NOK 1.5 billion.

ENDS

Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 15,000 people in more than 20 countries.

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This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com