Equinor to exercise options valued at around NOK 11,5 billion for framework agreements for maintenance and modification services with Norwegian partners

(Photo: Even Kleppa / Woldcam – Equinor ASA)

(PRESS RELEASE) STAVANGER, 11-Feb-2022 — /EuropaWire/ — Equinor ASA (OSE:EQNR, NYSE:EQNR), an oil, gas, wind and solar energy company active in more than 30 markets globally, has announced the company will exercise options valued at around NOK 11,5 billion for framework agreements for maintenance and modification services for all onshore and offshore installations, on behalf of its partners. The cooperation with its Norwegian suppliers such as Aibel AS, Apply AS, Aker Solutions AS and Wood Group Norway AS is now extended by three years and will continue creating significant ripple effects across the country.

The agreements were signed in 2016 and applies where Equinor is the operator or technical service provider.

The options are exercised for three years from 1 March 2023 and cover the same scope of work as previously regulated by contract. These will be the last options of the contracts.

“We are pleased about continuing the good cooperation we have had with our suppliers. By exercising the options we can build on the suppliers’ knowhow of our installations and quickly test new cooperation models to achieve results,” says chief procurement officer Mette H. Ottøy.

“We will encourage a reduction in CO₂ emissions and costs through simplification, standardisation, smart solutions and competitive local deliveries that will contribute to local ripple effects. The overall goal is that the enhanced cooperation will improve safety and produce results that will benefit both parties,” she says.

Equinor’s goal is to maximise profitable and as sustainable recovery as possible from the fields we operate, requiring safe and cost-effective solutions for operation of onshore and offshore installations. Our current intention is to achieve closer cooperation with our main suppliers driven by a common goal.

Media contact:

Sissel Rinde
Vice President, Media Relations
Corporate affairs
sisr@equinor.com
+47 41260584

SOURCE: Equinor ASA