Aibel strengthens its M&M position

The new contract has duration of six years with options for an additional four years. According to Aibel's calculations, the contract has a value of approx. NOK 7.5 billion plus options. The contract entails Aibel to carry out maintenance and modification work at more than one third of Statoil's offshore installations, and at four out of six onshore facilities on the Norwegian Coast.

"This is a vote of confidence for Aibel. With a new installation in our portfolio – in addition to today's volume – we are really content with the result. Having Aasta Hansteen included in the contract will also strengthen our presence in the northern part of the country," says Jan Skogseth, President and CEO of Aibel, emphasising that the bidding process has been thorough and professional.

The award secures jobs and continued activity at all Aibel offices along the Norwegian Coast.

Through the new contract, Aibel will carry out maintenance and modification work at a total of 13 installations in the North Sea, Norwegian Sea and Barents Sea, plus at four onshore facilities. In addition, there is an option for Njord A and B:

Aibel and Statoil have for a longer period of time been collaborating to find better and more efficient ways to solve the assignments. This has been a necessary process to reduce costs and make the industry more efficient.

"This is the new working method. Moving forward, we will continue focusing on improvements, for instance through our internal program "Securely, good enough and with the lowest possible price"," says Skogseth.

The contract is expected to employ about 1,000 employees at Aibel. It is valid as of 1 March 2016. Aibel has also been awarded a Competition Contract. This prequalifies Aibel to bid on individual assignments on all Statoil installations on the Norwegian Continental Shelf.