Aker Solutions has signed a five-year contract to provide maintenance and modification services for Vår Energi’s Jotun, Balder, and Ringhorne assets located on the southern Norwegian Continental Shelf. The agreement includes an option for Vår Energi to extend the contract by up to three additional two-year periods.
Although the exact financial value was not disclosed, Aker Solutions described the deal as substantial, with an estimated range between NOK500 million and NOK1.5 billion ($44 million to $131.5 million).
Aker Solutions has been delivering maintenance and modification services to Vår Energi’s assets for over two decades. The work will be managed from Aker Solutions’ Stavanger office, with fabrication taking place at the company’s yard in Egersund. Services under the framework agreement are set to begin in January 2025.
The contract will be included as order intake in Q4 2024 within the life cycle segment. Recently, Aker Solutions also extended a similar contract with Aker BP for maintenance services at offshore field centres in Norway, including Valhall and Hod, Ula and Tambar, and Alvheim and Skarv.