Equinor has signed framework agreements with a group of suppliers worth 100 billion Norwegian crowns ($10 billion) for maintenance and modifications of its offshore and onshore installations, the company said on Thursday.
The new agreements for a five-year period, with options to extend by a further three- and two-year periods, were signed with Aibel, Wood Group, IKM Group, Head Energy and Rosenberg Worley, Moreld Apply and Aker Solutions.
The new agreements replace deals signed in 2016 with Aibel, Apply, Wood Group, Aker Solutions and Reinertsen that expire this March. Aker Solutions acquired Reinertsen's offshore business in 2017.
Aker Solutions said in a separate statement late on Wednesday that it would book its part of the five-year contracts, excluding options, as a major order intake in the first quarter of 2026.
It defines a major contract as being between eight and 12 billion crowns.
Maintenance and modification contracts are widely seen as the core business of subcontractors to Norway's oil industry, amid lower demand for new field developments as large projects are wrapping up and few major oil and gas discoveries remain.
On Wednesday, Aker Solutions announced layoffs at one of its Norwegian shipyards, which specialises in building steal constructions for offshore fields.
(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)
