Aker Solutions has signed a frame agreement extension with Aker BP under which it will provide subsea production systems to the company’s projects on the Norwegian continental shelf (NCS) until 2029.
The agreement may also cover assistance to Aker BP for feasibility studies and concept developments, front-end engineering and design (FEED), subsea development projects, and services during project execution, including engineering, procurement and construction.
The deal will run until 31 December 2028 and replaces the original agreement, signed in June 2016, which was valid for eight years.
The value of the work will be recognized by Aker Solutions as subsea order intake when each new project is called off.
“The extension of the frame agreement underscores our longstanding strategic partnership with Aker BP and is important to ensure long-term activity levels on the Norwegian Continental Shelf,” said Maria Peralta , Executive Vice President and Head of Aker Solutions’ subsea business.
The extension is said to further support Aker Solutions’ commitments to the Subsea Alliance, a project-execution agreement with Aker BP and Subsea 7 that enables operators and contractors to work as one integrated team toward cost-effective solutions for developing Aker BP’s subsea field portfolio.
To remind, at the end of 2022, the Norwegian oilfield services provider announced it had secured multiple contracts with Aker BP which combined represent the largest value of contract awards in a single quarter in its history.