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    Aker BP Awards $175mn Mod Deal to Affiliate


Norway's Aker is the main shareholder in both Aker BP and Aker Solutions.

by: Joseph Murphy

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Natural Gas & LNG News, Europe, Corporate, Exploration & Production, Contracts and tenders, Companies, Europe, Aker BP, News By Country, Norway

Aker BP Awards $175mn Mod Deal to Affiliate

Norwegian producer Aker BP has awarded a two-year contract extension for maintenance and modifications at its Ula, Skarv, Valhall and Tambar fields off Norway to its affiliate Aker Solutions, the latter announced on June 29.

Work will start on December 1, said Aker Solutions, estimating the value of the contract at kroner 1.7bn ($175mn). The order will be booked in its second-quarter results. It builds on an alliance Aker BP and Aker Solutions formed in 2018 on modification projects at Valhall, Ula and Skarv.

"Work under the new alliance has proved to be efficient and the alliance has continued to improve deliveries and develop new ways of working," commented Linda Aase, executive vice president for brownfield projects at Aker Solutions.

Norway's Aker has a 46.9% stake in Aker Solutions and a 40% interest in Aker BP, whose other main shareholder is BP with 30%.