The portfolio agreement has a duration of five years with an extension option. The agreement includes study work, minor FEEDs and major modification project executions, so-called EPCI projects (Engineering, Procurement, Construction and Installation).
The portfolio agreement can ensure call-off agreements of major size* and is thus important for further employment of employees at several of the company's offices and at the yard in Haugesund. The projects will be managed from Aibel's office in Bergen with support from other offices.
During the next year, the company will carry out a FEED for the OGP project, which include new modules for the Oseberg field centre and associated integration work both offshore and at the onshore facility at Kollsnes. If the partners make a positive investment decision and the project is approved by the authorities, Equinor has the opportunity to enter into a call-off agreement for engineering, procurement, construction and installation (EPCI).
The aim of the extensive upgrade projects at Oseberg is to maximize gas exports and at the same time establish a solution for onshore power to minimize CO2 emissions from the energy-intensive process.
"This is an important vote of confidence from Equinor and a recognition of the study work we have previously done at Oseberg. At the same time, there is also an endorsement of Aibel's commitment to electrification on the Norwegian continental shelf, where we are already playing a prominent role in the electrification of Johan Sverdrup and the surrounding fields at the Utsira High," explains President and CEO of Aibel, Mads Andersen.
"Over the years, employees at our office in Bergen have acquired solid expertise on Oseberg and Kollsnes from previous projects. In addition, a good deal of our electrification expertise has accumulated here and at our other offices, so I am convinced that we are well equipped to deliver solutions that meet customer expectations," Nils Arne Sølvik, EVP Modifications and Yard Services, states.
*Aibel uses the term "major size" on contracts where the value of Aibel is higher than NOK 2.5 billion.
Published 08 July 2020
