Equinor has decided to extend the maintenance and modification agreement (M&M) at Johan Sverdrup for the period 2023 to 2026. Aibel values the agreement as a significant contract*.

In 2019, Aibel was awarded, together with Aker Solutions, M&M assignments at Johan Sverdrup until 2022 as a call-off in the companies’ existing M&M frame agreements. Equinor has now decided to extend this arrangement with both Aibel and Aker Solutions with duration until February 2026.

"This is very positive for the maintenance and modification part of our business, and especially for the Stavanger office and the fabrication work in Haugesund and offshore,” says President and CEO of Aibel, Mads Andersen. “We have received good feedback from Equinor regarding deliveries, expertise and cooperation at Johan Sverdrup. This has formed the basis for the extension of the agreement, and now it is important that we continue the good M&M work for the years ahead”.

In addition to the M&M agreement, Aibel has been a major contributor to the Johan Sverdrup development. The company has had contracts related to Johan Sverdrup of around NOK 30 billion and has, among other things, delivered the drilling platform and the P2 process platform, as well as the two power from shore facilities at Haugsneset.

* Aibel uses the term «significant» on contracts where the value for Aibel is between NOK 0.5 and 1.5 billion.

About Aibel

Aibel is a leading service company within the oil and gas industry and is established in renewable energy.
The company`s around 4,000 employees in Norway and abroad are engaged onshore and offshore. With six locations in Norway, the company is located near the customers. In addition to operations in Norway, Aibel is also located in Thailand and Singapore.

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.