Aker Solutions ASA: Aker Solutions signs long-term strategic partnership with Vår Energi
January 22, 2025 - Aker Solutions enters a strategic partnership agreement to deliver maintenance and modification services on Vår Energi operated assets and projects on the Norwegian Continental Shelf (NCS).
The partnership also includes Honeywell and StS-ISONOR and builds on an already established collaboration model with clear incentives to work as an integrated team towards common goals.
The contract has a duration of 5 years with the option to be extended up to 11 years.
“We are proud to be a trusted and strategic partner for Vår Energi. At Aker Solutions, we believe that strong partnerships drive efficiency, foster continuous improvement, and enable a leaner project organization,” said Paal Eikeseth, executive vice president and head of Aker Solutions’ Life Cycle segment.
The strategic partnership aims to create value through joint project planning, safe and efficient execution, collaboration and shared objectives.
Vår Energi's chief operating officer, Torger Rød, is pleased to initiate a four-party collaboration with the team:
"Aker Solutions, Honeywell and StS-ISONOR represent world-leading technical expertise and extensive experience in areas of strategic importance to our activities. With Vår Energi's clear growth ambitions, a strong and long-term partnership is crucial. We are working purposefully to achieve results through close collaboration, actively utilising our partners’ core competencies. By year-end, we will increase production to around 400 thousand barrels per day, which makes us one of the world's fastest-growing oil and gas companies.”
Vår Energi's operations span the entire Norwegian continental shelf with a diversified portfolio of 200 licenses and 42 producing fields.
In December 2024, Aker Solutions signed a sizeable1 frame agreement to deliver maintenance and modification services for Vår Energi’s Jotun, Balder, and Ringhorne assets in the southern Norwegian Continental Shelf (NCS). These activities are part of the partnership.
1Aker Solutions defines a sizeable contract as being between NOK 0.5 billion and NOK 1.5 billion
ENDS
Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611
Ruth Lycke
media contact
Ruth.Lycke@akersolutions.com
+47 906 65 931
Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 11,700 people in more than 15 countries.
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