Aker Solutions announced today it has secured two framework agreements for subsea production systems and lifecycle services with BP.
Under the five-year agreements, the company will make potential future deliveries of the systems and services at oil and gas fields operated by BP at a global level.
“This further expands our long-standing relationship with BP, which spans more than twenty years,” Aker Solutions Chief Executive Officer (CEO) Luis Araujo, said.
Aker Solutions Wins Two Subsea Deals with BP
The first five-year agreement provides for engineering, procurement and construction (EPC) of subsea production systems for new and maturing field developments worldwide.
Aker Solutions would bid for work under the contract, which sets out the terms and conditions that would need to be met, the company explained in a statement.
Aker could become a preferred supplier with BP
As well as this, Aker Solutions and BP agreed on a five-year servicing agreement which coincides with the first contract.
This entails any equipment delivered under the first contract as well as support provided to previously installed subsea hardware.
Both the agreements have started in August 2016.
Aker Solutions Could Become a BP Top Supplier
“We look forward to working together to find sustainable solutions for securing needed energy resources from BP’s subsea fields around the world”, the CEO stated further.
Additionally, with these contracts, Aker Solutions will have the chance to bid for work as one of four preferred suppliers for BP’s development portfolio across the world.
According to Aker Solutions, the size of the framework agreements will depend on the amount of work that is needed and orders will be booked as they come in.
Earlier last week, Aker Solutions announced it had bought a 70% stake in the Brazilian C.S.E. Mecânica e Instrumentação to expand its services business in key international markets.
With this agreement, the company gains access to Brazil’s growing market for servicing existing oil and gas fields, proving the company’s interest in internationalising its services business.