Aker Solutions' geo business has signed a three-year frame agreement with Statoil to supply sub-surface consultancy services within the areas of production geology, exploration geology and reservoir technology. Contract value is undisclosed.
The agreement is valid a period of three years, from 1 March 2010. In addition, Statoil has options to extend the agreement with two one-year periods. The agreement is valid to cover Statoil's assets worldwide.
'This is a significant contract for us, with an important oil company who we share a great deal of history with,' says Erik Sverre Jenssen, president of Aker Solutions' geo business.
'We are one of the largest sub-surface consultancy businesses on the Norwegian continental shelf (NCS), and this contract both confirms our competitiveness and is a recognition of our competence. As a result, we will probably be looking at expanding our capacity within the market segments the contract covers,' adds Jenssen.
Aker Solutions' sub-surface consultancy Aker Geo AS delivers services through the whole subsurface value chain, from exploration to production. The unit comprises a team of 60 geologists, geophysicists and reservoir engineers. Its main fields of activity are geological and geophysical interpretation, petrophysics, reservoir modelling and simulation, wellsite geology as well as production technology and operations.
Aker Solutions' contract party is Aker Geo AS.
For further information, please contact:
Endre Johansen, VP Communications, Aker Solutions. Tel: +47 22 94 58 91, Mob: +47 416 10 605, e-mail: firstname.lastname@example.org
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194
For further information about sourcing and potential subcontracts for this project, please contact BA Global Sourcing Champion, telephone number found here: http://www.akersolutions.com/Internet/SuppliersCentre/Contacts/SupplyManagementContacts.htm.
Aker Solutions ASA, through its subsidiaries and affiliates ('Aker Solutions'), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.
Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 54 billion and employs approximately 22 000 people in about 30 countries.
Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.