Norway’s Aker Solutions has signed a contract for maintenance and modification services on Vår Energi’s Jotun, Balder, and Ringhorne assets in the southern area of the Norwegian Continental Shelf.
The five-year agreement includes an option for Vår Energi to extend the contract by up to three additional two-year periods.
No precise figure was given for the deal but Aker Solutions stated that the deal was sizeable which puts the value between NOK500m and NOK1.5bn ($44m and $131.5m).
Aker Solutions has been providing maintenance and modification services for Vår Energi’s Jotun, Balder, and Ringhorne assets for more than 20 years. The operator is currently Norway’s second-largest exporter of gas.
The work will be managed from Aker Solutions’ office in Stavanger while fabrication will be carried out at the company’s yard in Egersund. The work under the frame agreement will start in January 2025.
The contract will be booked as order intake in the fourth quarter of 2024 in the life cycle segment.
At the start of the week, Aker Solutions won an extension for a similar contract from compatriot oil and gas firm Aker BP. The contract covers the operated field centres offshore Norway – Valhall and Hod, Ula and Tambar, and Alvheim and Skarv.
