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Norway’s Aker Solutions wins key contract at giant N.Sea field

By: | at 02:29 PM | Liner Shipping  

Norway’s Aker Solutions has won a crucial contract to provide engineering services, procurement and management assistance for the giant Johan Sverdrup oilfield in the North Sea, the firm said on Friday.

The oilfield engineering company had previously said it was crucial to its fortunes to win the deal, which would involve working for up to 10 years on one of the biggest industrial schemes undertaken in the Nordic country.

The first contract awarded as part of the deal is worth 650 million crowns ($105.54 million) and involves the supply of FEED, or front-end engineering and design, for Johan Sverdrup.

“The Johan Sverdrup field is one of Norway’s largest offshore oil discoveries and of huge importance to both our company and the country’s oil and gas industry,” Oeyvind Eriksen, executive chairman of Aker Solutions, said in a statement.

“The contract will define Aker Solutions for years to come.”

Earlier, the partners in the oilfield, Statoil, Det Norske, Petoro, Lundin Petroleum and Maersk Oil said they were delaying by a year the development of the field, which could be the third-biggest oil find made off Norway.

The Nordic country is the world’s eighth-largest crude exporter.

But the partners said they would still go ahead with awarding a FEED (Front End Engineering and Design) contract as “soon as possible” to ensure progress for the project.

($1 = 6.1585 Norwegian kroner)