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Friday, June 14, 2024

Aker Solutions snares big new contract

The crisis-hit modifications and maintenance division of Oslo-based oil service firm Aker Solutions got some welcome news on Monday. It won a major contract for work on the Ekofisk field in the Norwegian sector of the North Sea.

The contract, from US oil company ConocoPhillips, is worth as much as NOK 3 billion. It means Aker Solutions will be ConocoPhillips’ main supplier of maintenance and modifications (MMO) on the Ekofisk field for the next five years. The contract has an option for three-year extensions, making it worth even more.

There was no immediate word whether the contract might save some of the jobs that Aker Solutions has been slashing because of a lack of work. Contracts in Norway’s oil and oil service industry have been few and far between, since oil prices took a dive, and oil companies dramatically dropped their investments. Aker Solutions’ CEO Luis Araujo stated, however, that the new work from ConocoPhillips would “build upon the strengths” in Aker Solutions’ Norwegian operations.

Aker Solutions also stated that the contract would be handled by its MMO operations in Stavanger and Egersund, and that it also would provide work for employees offshore. staff



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