Aker Solutions Secures Extended Agreement with Statoil

Press Release
Thursday, November 01, 2012

Statoil has exercised a two-year contract option with Aker Solutions for provision of mechanical wireline services on Statoil operated fields and mobile drilling units on the Norwegian continental shelf.

The initial three-year contract period started in 2009. Statoil has now exercised the first of two potential two-year contract options. Aker Solutions estimates that the two-year contract extension will generate revenues of between NOK 700-800 million.

The contract will occupy around 400 employees, of which approximately 60 per cent will be supporting Statoil offshore. Aker Solutions will manage the agreement from its well service hub at Forus, Stavanger, Norway.

"Our cooperation with Statoil within the mechanical wireline segment dates back to 1984. This partnership has helped build up and continuously develop a highly competent well service community on the Norwegian continental shelf. Statoil has the world's highest recovery rates for offshore oil and gas assets and we are proud to be a supplier to their success," says Rolf Leknes, head of Aker Solutions' Scandinavian well intervention services business.

The contract comprises mechanical wireline services on the following Statoil operated fields: Heidrun; Njord A; Brage; Grane; Gullfaks A, B and C; Heimdal; Huldra; Kvitebjørn; Oseberg B, C, East and West; Troll A; Veslefrikk; Visund A; and Volve. The contract also covers mechanical wireline work on the majority of the mobile drilling units Statoil will utilise at its subsea fields in the North Sea, including Gullfaks satellites, Heidrun satellites, Hyme, Kristin, Mikkel, Norne, Oseberg, Tune, Snorre UPA, Snøhvit, Statfjord satellites, Tordis, Troll, Vega, Vigdis, Visund, Yttergryta and Åsgard. Additionally, Aker Solutions will deliver onshore operational support to Statoil's field centres at Stavanger, Bergen, Stjørdal and Harstad.

"Working with Statoil means that we are required to invest energy, competence and money into technology that enables smarter and more cost-effective ways of delivering our services. To extend this cooperation effectively means that we are able to continuously improve our service offering, while Statoil is the end-beneficiary through improved operational performance and oil recovery rates. We are delighted to continue supplying mechanical wireline services to Statoil," says Wolfgang Puennel, head of well intervention services in Aker Solutions.

Well intervention services are carried out in an oil or gas well, with the objective of maximising production and increasing the recovery rate of oil and gas.  Aker Solutions' contract party is Stavanger-based Aker Well Service AS.

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