Aker Solutions to cover maintenance & modifications for OKEA for another seven years

Norwegian offshore engineering and services provider Aker Solutions has secured a seven-year extension of its maintenance and modifications agreement with compatriot oil and gas company OKEA.

As informed by Aker Solutions on Friday, the company has been awarded a substantial seven-year contract extension (3+2+2 years) of the existing maintenance and modifications frame agreement with OKEA. The agreement covers work on all installations offshore Norway operated by OKEA.

The Norwegian contractor has been delivering maintenance and modifications services for OKEA since 2018, which will now be further extended to 2028. It includes exercising the remaining three options in the agreement. The work scope will cover concept study, engineering, procurement, construction and installation services for all onshore and offshore assets.

Kjetel Digre, chief executive officer of Aker Solutions, commented: “Our experiences working with OKEA in the last few years will enable us to accelerate initiatives towards cost-effective and low-carbon solutions, with a strong emphasis on continuous improvements and increased productivity in the work we deliver.”

Aker Solutions’ teams in Kristiansund and Trondheim will continue to deliver to the agreement with support from other locations, including fabrication in Egersund.

Knut Gjertsen, senior vice president of OKEA, stated: “I look forward to leveraging the cooperation of the workforce in both companies to maximize production in our fields safely while reducing carbon intensity.”

Aker Solutions defines a substantial contract as being worth between NOK 700 million (about $79.3 million) and NOK 1.2 billion (about $135.8 million). It will book the agreement as order intake in the first quarter of 2022 in its Electrification, Maintenance and Modifications segment.

It is also worth reminding that Aker Solutions last July secured a contract with OKEA for modifications on the Draugen platform to enable the processing of gas from the Hasselmus discovery.

The scope covers hook-up of a new riser, a new inlet arrangement with an electrical heater, a new inlet scrubber, a valve arrangement, revamp of gas export compressors and modifications of the condensate train. It is scheduled to be completed at the end of 2023.