Aker Solutions awarded major subsea contract extensions

Aker Solutions has received notification that Statoil has exercised options for the engineering, procurement and construction of three subsea work-over systems for use on the Norwegian Continental Shelf. Aker Solutions estimates the contract value of these three extensions to be a total of approximately NOK 1.25 billion.

In February, Statoil awarded Aker Solutions a contract for one workover system to be used on the Vigdis North East development on the Norwegian Continental Shelf. It is options from this contract which have been exercised.

Workover equipment is used on every subsea well, for installing equipment and preparing the well for production. During field life, workover equipment is used during the maintenance of subsea wells to improve oil recovery.

"We are pleased to receive additional awards for our new modularised workover systems. This contract will strengthen Akers Solutions' position as one of the major providers of well access services on the Norwegian continental shelf. Our equipment provides safe and efficient well access for downhole operations, resulting in increased oil recovery," says Mads Andersen, executive vice president of Aker Solutions' subsea business area.

The workover systems project will be managed at Aker Solutions' Tranby Technology and Manufacturing Centre outside Oslo in Norway. The manufacturing of the well control package and riser elements will be completed at Tranby and the workover control module out of Aberdeen.
Source: Aker Solutions