IKM Group to employ up to 70 persons as part of contract for Norway’s PRSI Pool

Norwegian state-owned energy firm Equinor has awarded Sola-based IKM Group with a contract for the provision of services for the Pipeline Repair and Subsea Intervention (PRSI) Pool, with about 50-70 people expected to be employed for the work.

The PRSI Pool includes 23 companies covering their offshore pipeline and power cable repair contingency via the pool, among which are energy companies such as Equinor, Statnett, Aker BP, Shell and Neptune Energy.

The contract with IKM Group, of an estimated value of approximately NOK 1.6 billion (around €141 million), is for a duration of four years, with two options each for an additional two years.

The work, to be performed in collaboration with Equinor, includes the management, administration, and operation of the PRSI Pool Base, including maintenance, studies, engineering, procurement, fabrication, testing and operation of equipment for pipeline repair and subsea intervention.

“IKM is currently established with two companies in Haugesund. This contract will strengthen our presence in the region and will also mean a lot to our local partners in Haugalandet. IKM’s core business is operational support and specialist maintenance, so this contract fits well into our portfolio. In addition to using our own expertise, we will also recruit locally,” said Øystein Stjern, Deputy CEO of IKM Group.

Activities will be carried out at Equinor’s facilities in Killingøy, Haugesund, as well as offshore on the Norwegian Continental Shelf (NCS) and in various international areas. According to IKM, work under the contract will employ about 50-70 people, with preparatory work including recruitment and planning to start immediately.

“We will utilize specialist expertise from several IKM companies in this work. For example, subsea engineering expertise from IKM Ocean Design, hydraulic, mechanical, and electrical maintenance from IKM Elektro, and subsea operational expertise from IKM Subsea. We are really looking forward to starting the work,” said Executive Vice President of IKM Group Arne Vervik.