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Aibel awarded Oseberg portfolio agreement for 2020 – 2026

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Oilfield Technology,

On behalf of the Oseberg partners, Equinor has awarded Aibel a portfolio agreement for the Oseberg fields for the period 2020-2026.

Aibel awarded Oseberg portfolio agreement for 2020 – 2026

The aim of the portfolio agreement is to ensure a holistic approach to planning and execution of projects at the Oseberg fields.

“There will be an increased level of project activity at the Oseberg fields in the coming years. With one main supplier, we will be able to synchronise the different projects schedules, utilise synergies between parallel projects and optimise personnel on board,” said Peggy Krantz-Underland, Equinor’s chief procurement officer.

“The portfolio agreement will allow us to work with Aibel on Oseberg in an integrated way, focusing on safety, continuous improvement and cost efficiency. It will also create predictability and continuation for supplier’s personnel and sites,” explained Krantz-Underland.

Furthermore, Equinor has awarded Aibel a FEED contract for the Oseberg Gas Capacity Upgrade and Power from Shore project (OGP), as the first call-off under the portfolio agreement. The value of the FEED contract is around NOK120 million.

The objective of the OGP project is to maximise Oseberg asset value through timely low-pressure production and increased gas export, and to reduce the Oseberg carbon footprint by partly electrifying the Oseberg field centre and Oseberg South with power from shore. Increased gas capacity through the OGP project will increase the value of future tie-ins to Oseberg. Equinor and partners are working towards a final investment decision (FID) in late 2021.

“Oseberg is a legacy field that has played a key role in developing the Norwegian continental shelf and will continue to be an important hub in the North Sea towards 2040,” said Geir Sørtveit, senior vice president for Operations West in Equinor.

“We look forward to collaborating and working safely together with Aibel to develop Oseberg for further value creation and lower CO2 emissions for the future,” Sørtveit continued.

Upon a FID by Equinor and its partners and a final regulatory approval in the OGP project, Equinor has the possibility to exercise a call-off for engineering, procurement, construction and installation (EPCI).

Image of Oseberg field centre courtesy of Equinor.

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