Aker Wins Shell Global Frame Agreement
Aker Solutions' agreement with Shell is for delivery of subsea umbilicals and cables globally.
The size of the frame agreement is dependent on call-offs and the number of projects that Shell decides to execute. However, Aker Solutions (AKSO.OL) estimates that the frame agreement could generate revenues between USD 200 and USD 400 million. Order intake will be booked whenever the specific contracts are signed.
The Enterprise Framework Agreement (EFA) with Shell is signed for the duration of five years with an option for an additional five years. Aker Solutions will deliver dynamic and static steel tube umbilicals for both shallow and deepwater applications.
The EFA has a global scope. Shell's subsea projects are primarily focused on the Norwegian continental shelf, UK, Gulf of Mexico, West-Africa and Brazil.
The umbilicals and cables will be manufactured and delivered out of Aker Solutions' facilities in Moss, Norway and Mobile, Alabama, supported by project management, design and engineering in Fornebu, Norway and the Mobile office.
Subsea umbilicals are deployed on the seabed to supply necessary control and chemicals to subsea oil and gas wells, subsea manifolds and any subsea system requiring a remote control.
"We look forward to safeguard Shell's valuable assets and contribute to their production success globally," says Tove Røskaft, head of Aker Solutions' umbilicals business.