Oseberg Portfolio Agreement
Aibel was awarded the portfolio agreement for major modifications at Oseberg by Equinor in the summer of 2020.
Studies, FEEDs and EPCI projects
The portfolio agreement covers major modifications at Oseberg, including study work, FEEDs and EPCI projects (Engineering, Procurement, Construction and Installation). The contract has duration of five years with an option for extension.
The agreement is managed from Bergen and Stavanger, but can ensure call-offs for major projects involving several of Aibel’s other locations in Norway, including the yard in Haugesund.
The first call-off was awarded in August 2020 for the Oseberg Gas Capacity Upgrade and Power from Shore (OGP), which included FEED with option for EPCI. The option was exercised in November 2021, and the project includes new modules for the Oseberg field centre and associated integration work both offshore and at the onshore facility at Kollsnes. The aim 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.
In January 2021, Aibel was awarded another call-off for the Northern Lights subsea control system at the Oseberg A platform. This was an EPCI project carried out from Aibel's offices in Bergen and Stavanger, and with prefabrication at the yard in Haugesund. The project was completed late 2023.
Facts
Contract: Portfolio agreement, including studies, FEEDs and EPCI projects
Client: Equinor
Value: Call-offs may be worth more than NOK 2.5 billion
Delivery: The agreement has duration of five years (expires summer 2025) + option for extension.
Aibel has a long history at Oseberg, which is also part of Aibel’s Equinor VEM contract covering maintenance and modifications at several of Equinor’s on- and offshore facilities on the Norwegian Continental Shelf.