Norway-based energy services provider Aker Solutions has signed a strategic partnership agreement with compatriot oil and gas player Vår Energi to deliver maintenance and modification services on the assets and projects on the Norwegian Continental Shelf (NCS) operated by the latter. The partnership also includes U.S.-based technology firm Honeywell and Norway’s maintenance and modification service provider StS-ISONOR.
According to the partners, the collaboration builds on an already established model, aiming to create value through joint project planning, safe and efficient execution, and collaboration, to achieve common goals. The contract has been signed for five years with the option to be extended up to 11 years.
“We are proud to be a trusted and strategic partner for Vår Energi. At Aker Solutions, we believe that strong partnerships drive efficiency, foster continuous improvement, and enable a leaner project organization,” said Paal Eikeseth , executive vice president and head of Aker Solutions’ Life Cycle segment.
In December 2024, Aker Solutions signed a sizeable frame agreement, which is defined by the firm as being between NOK 0.5 billion and NOK 1.5 billion, or approximately $44–130 million, to deliver maintenance and modification services for Vår Energi’s Jotun , Balder , and Ringhorne assets in the southern NCS. These activities are included in the scope of the contract.
Vår Energi’s Chief Operating Officer, Torger Rød, noted: “Aker Solutions, Honeywell and StS-ISONOR represent world-leading technical expertise and extensive experience in areas of strategic importance to our activities. With Vår Energi’s clear growth ambitions, a strong and long-term partnership is crucial.
“We are working purposefully to achieve results through close collaboration, actively utilising our partners’ core competencies. By year-end, we will increase production to around 400 thousand barrels per day, which makes us one of the world’s fastest-growing oil and gas companies.”
Vår Energi’s operations span the NCS and include a portfolio of 200 licenses and 40 producing fields. Last week, it was disclosed that the firm was awarded 16 licenses by the Norwegian Ministry of Petroleum and Energy as part of the country’s award in the pre-defined areas 2024 (APA 2024) round, which was launched in May 2024 .
At the start of January, the Norwegian player was getting ready to spud an exploration well in the North Sea after obtaining a drilling permit for the wellbore 7/1-3 in production license 1090 from the Norwegian Offshore Directorate (NOD).
Meanwhile, Aker was recently hired as a subcontractor by another Norwegian major, Equinor. The deal entails early-stage engineering services for the electrification of oil and gas installations in the Halten, Tampen, and Grane/Balder areas off the coast of Norway.