Aker Wins Johan Sverdrup Framework Contract
Aker Solutions won a framework contract from Statoil (STO) to provide engineering services, procurement and management assistance (EPma) for as many as 10 years at the Johan Sverdrup development in the Norwegian North Sea.
The accord includes front-end engineering design (FEED) work, for a value of NOK 650 million, as well as an EPma option for the development's first phase. It also has additional options for work in later phases.
"The Johan Sverdrup field is one of Norway's largest offshore oil discoveries and of huge importance to both our company and the country's oil and gas industry," said Øyvind Eriksen, executive chairman of Aker Solutions (AKSO.OL). "The contract will define Aker Solutions for years to come."
Aker Solutions this year conducted concept studies for Johan Sverdrup, which is estimated to hold between 1.8 billion and 2.9 billion barrels of oil equivalent. Statoil is the working operator for the development, which spans three licenses. Other partners include Lundin Norway, Petoro, Maersk Oil and Det norske oljeselskap.