Aker Solutions signs Subsea Frame Agreement extension with Aker BP
June 2, 2023— Aker Solutions and Aker BP have agreed to extend a frame agreement for the provision of Subsea Production Systems until December 31, 2028.
The original agreement, signed in June 2016, was valid for eight years.
The Agreement may cover assistance to Aker BP for feasibility studies and concept developments; front-end engineering and design; subsea development projects and services during project execution (engineering, procurement and construction).
The extension further supports Aker Solutions’ commitments to the Subsea Alliance, a project-execution agreement with Aker BP and Subsea 7 that enables operator and contractors to work as one integrated team toward cost-effective solutions for developing Aker BP’s subsea field portfolio.
"The extension of the frame agreement underscores our longstanding strategic partnership with Aker BP and is important to ensure long-term activity levels on the Norwegian Continental Shelf,” said Maria Peralta, executive vice president and head of Aker Solutions' subsea business.
The value of the work to be called off under the frame agreement will only be recognized by Aker Solutions as subsea order intake when each new project is called off.
ENDS
Preben Ørbeck
Investor Relations
preben.orbeck@akersolutions.com
Hallvard Norum
media contact
hallvard.norum@akersolutions.com
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 15,000 people in more than 20 countries.
Visit akersolutions.com and connect with us on Facebook, Instagram, LinkedIn, Twitter and YouTube.
This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com