Norwegian state-controlled energy giant Equinor and its compatriot oil and gas services company Aibel have entered into a 10-year agreement to ensure a close and long-term strategic collaboration.
The agreement aims to ensure predictability, which will be important to both parties in times of many great and important opportunities, Equinor explained on Friday.
For several years Aibel has been one of Equinor’s key collaboration partners. As an example, Aibel was awarded the majority of contracts for further development of mature fields on the Norwegian continental shelf (NCS) in 2020 and 2021.
According to Equinor, it has contributed to a major share of Aibel’s earnings, and the companies have for several years worked on a joint improvement effort to strengthen safety and efficiency in the projects.
Geir Tungesvik, executive vice president for Projects, Drilling & Procurement, said: “Equinor has clear ambitions for the energy transition, and we have a high activity level in oil and gas, renewables and low-carbon technologies. Through this strategic collaboration agreement we create security for both parties, giving Aibel an opportunity to get more assignments, while we know that we will be able to deliver our projects with the high quality that Aibel is known for and we depend on to succeed.”
Aibel is Equinor’s key supplier of maintenance and modification services on offshore and onshore installations. The framework agreement with Aibel on these services was recently extended to March 2026.
CEO of Aibel, Mads Andersen, sees the new collaboration agreement as an important step to further develop the companies’ joint improvement agenda, not least in terms of safety.
“Aibel and Equinor have for a long time had a close and good collaboration on the NCS, and the new collaboration agreement forms the basis for a long-term continuation of this relationship. The agreement offers Aibel predictability and a better foundation for long-term planning and competence development with less vulnerability to market fluctuations. I am therefore convinced that the agreement will contribute to better, safer and not least more cost-effective deliveries benefitting both parties,” said Andersen.
Aibel has, during the past years, established itself as one of the suppliers of offshore converter platforms to be delivered to, i.e., the Dogger Bank A, B and C offshore wind farms in the UK. As reported less than a month ago, Aibel started the construction of the offshore converter platform for the third phase of the 3.6 GW Dogger Bank offshore wind farm – Dogger Bank C.
In addition, Aibel has several times been assigned to perform hook-up of high-voltage systems offshore, such as electrification of Johan Sverdrup and Wisting.
The companies will keep pursuing opportunities for standardisation and simplification in both offshore wind and the electrification of oil and gas installations.
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