Statoil awards Aibel maintenance, modification contract extension

11/25/2013

Statoil awards Aibel maintenance, modification contract extension

STAVANGER, Norway -- Aibel will continue as Statoil's largest supplier of maintenance and modification services for two more years. Statoil has fulfilled an option to extend the contract with two more years. The extended contract has a total value of around $817 million (NOK 5 billion).

Aibel will continue to work on all platforms and onshore facilities that the company currently services.

Around 2,500 Aibel employees are involved in the Statoil M&M contract. The company is present at plants and installations across the shelf through two contracts. One includes the onshore plants of Kårstø, Kollsnes and Sture. The other is for the offshore installations Draupner, Statfjord, Oseberg, Huldra/Veslefrikk, Njord, Kristin, Norne and Hammerfest LNG.

The option that now has been invoked applies from 1 August 2014 and lasts until 31 July 2016.

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