Aker Solutions awarded global frame agreement with Shell

12/11/2012

Aker Solutions awarded global frame agreement with Shell

OSLO - The international oil services provider Aker Solutions has signed a frame agreement with Shell for the delivery of subsea umbilicals and cables globally.

The size of the frame agreement is dependent on call-offs and the number of projects that Shell decides to execute. However, Aker Solutions estimates that the frame agreement could generate revenues between $200 and $400 million. Order intake will be booked whenever the specific contracts are signed.

The Enterprise Framework Agreement (EFA) with Shell is signed for the duration of five years with an option for an additional five years. Aker Solutions will deliver dynamic and static steel tube umbilicals for both shallow and deepwater applications.

The EFA has a global scope. Shell's subsea projects are primarily focused on the Norwegian continental shelf, UK, Gulf of Mexico, West-Africa and Brazil.

"We look forward to safeguard Shell's valuable assets and contribute to their production success globally. Aker Solutions has developed market-leading umbilicals technology, proven to provide the widest range of functionality. We are extremely pleased and honored by this award," says Tove Røskaft, head of Aker Solutions' umbilicals business.

The umbilicals and cables will be manufactured and delivered out of Aker Solutions' facilities in Moss, Norway and Mobile, Alabama, supported by project management, design and engineering in Fornebu, Norway and the Mobile office.

Subsea umbilicals are deployed on the seabed to supply necessary control and chemicals to subsea oil and gas wells, subsea manifolds and any subsea system requiring a remote control.

Over the past 15 years Aker Solutions has delivered more than 400 umbilicals to some of the world's most challenging fields, from harsh environment to ultra-deep, high-pressure reservoir conditions.

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