Aker Solutions ASA: Aker Solutions secures new frame agreement with Vår Energi

December 20, 2024 – Aker Solutions has signed a sizeable¹ contract to deliver maintenance and modification services for Vår Energi’s Jotun, Balder, and Ringhorne assets in the southern area of the Norwegian Continental Shelf (NCS).

The five-year agreement includes an option for Vår Energi to extend the contract by up to three additional two-year periods.

"This contract renewal reflects our long-term relationship and status as Vår Energi’s preferred partner, highlighting that our commitment to improved deliveries and optimized solutions is highly valued by our customers," said Paal Eikeseth, Executive Vice President and head of Life Cycle, Aker Solutions.

Aker Solutions has been providing maintenance and modifications services for Vår Energi’s Jotun, Balder, and Ringhorne assets for more than 20 years. The operator is currently Norway’s second-largest exporter of gas and plays a significant role in providing reliable and affordable access to energy to Europe.

"Maintenance and modifications are essential to ensuring the safe and efficient operation of our customers' installations and facilities. We look forward to continuing our good collaboration with Vår Energi to achieve this goal," said Eikeseth.

The work will be managed from Aker Solutions' office in Stavanger, Norway while fabrication will be carried out at the company's yard in Egersund. 

The work under the frame agreement starts January 2025.

The contract will be booked as order intake in the fourth quarter of 2024 in the Life Cycle segment.

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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This press release may include forward-looking information or statements and is subject to our disclaimer. See https://akersolutions.com.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.