Oseberg Portfolio Agreement

Aibel was awarded the portfolio agreement for major modifications at Oseberg by Equinor in the summer of 2020.

Aibel Oseberg 2057

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 is the so-called Oseberg Gas Capacity Upgrade and Power from Shore (OGP), which is a FEED with option for EPCI. It 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.

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.