Aibel gets important contract on Oseberg field

2020-07-08

Aibel has been awarded a portfolio agreement by Equinor for modification tasks on the Oseberg field. The first call-off of the agreement is front-end engineering and design (FEED) of Oseberg Gas Capacity Upgrade and Power from Shore (OGP).

The portfolio agreement has a duration of five years with an extension option. The agreement includes study work, minor FEEDs and major modification project executions, so-called EPCI projects (Engineering, Procurement, Construction and Installation).

The portfolio agreement can ensure call-off agreements of major size* and is thus important for further employment of employees at several of the company's offices and at the yard in Haugesund. The projects will be managed from Aibel's office in Bergen with support from other offices.  

During the next year, the company will carry out a FEED for the OGP project, which include new modules for the Oseberg field centre and associated integration work both offshore and at the onshore facility at Kollsnes. If the partners make a positive investment decision and the project is approved by the authorities, Equinor has the opportunity to enter into a call-off agreement for engineering, procurement, construction and installation (EPCI).

The aim of the extensive upgrade projects at Oseberg is to maximize gas exports and at the same time establish a solution for onshore power to minimize CO2 emissions from the energy-intensive process.

"This is an important vote of confidence from Equinor and a recognition of the study work we have previously done at Oseberg. At the same time, there is also an endorsement of Aibel's commitment to electrification on the Norwegian continental shelf, where we are already playing a prominent role in the electrification of Johan Sverdrup and the surrounding fields at the Utsira High," says President and CEO of Aibel, Mads Andersen.

"We are proud that Aibel is once again gaining confidence from Equinor to contribute to the transition to a cleaner and more sustainable business on the Norwegian continental shelf," says Christian Johansson Gebauer, Head of Business Area Construction & Services at Ratos.
 

*Aibel uses the term "major size" on contracts where the value of Aibel is over NOK 2.5 billion.

For further information, please contact:
Christian Johansson Gebauer, Head of Business Area Construction, +46 8 700 17 00
Helene Gustafsson, Head of IR & Press, +46 8 700 17 98, helene.gustafsson@ratos.se

 

About Ratos:

Ratos is a business group consisting of 12 companies divided into three business areas: Consumer & Technology, Construction & Services and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.