Aker Solutions has signed a framework agreement to provide subsea services for Statoil-operated oil and gas fields offshore Norway from 2018.
The deal has a fixed period of five years, starting in the first quarter of 2018, and contains five four-year extension options. Its value depends on the amount of work ordered by Statoil under the agreement.
The deal is currently estimated at about NOK 3 billion for the fixed period but this could go up if the deal is extended.
"These contracts illustrate the strength of the subsea services presence we have built across Norway," said Aker Solutions chief executive officer Luis Araujo. "We look forward to delivering to such a key customer as Statoil and playing a part in further building Norway's newest oil and gas region in the far north."
The contract scope covers subsea lifecycle services, including offshore installation and retrieval of equipment, maintenance, engineering and operations support.
The agreement provides work for Aker Solutions' services bases in Ågotnes on the west coast of Norway and Hammerfest, located on the country's northern tip.