Equinor agrees subsea collaboration with TechnipFMC, Aker Solutions

Equinor pens subsea collaboration with TechnipFMC, Aker SolutionsImage courtesy of Equinor

Norwegian LNG player Equinor signed collaboration agreements with Aker Solutions and TechnipFMC for subsea equipment and services on the Norwegian continental shelf (NCS) and internationally.

Equinor is operating close to 600 subsea wells, which account for a considerable share of the company’s total production, the company’s statement reads.

The improvement effort throughout the industry has enabled Equinor to sanction projects that previously could not have been realized, the company said.

In 2017, Equinor and its partners sanctioned projects for more than NOK 90 billion ($11 billion) on the NCS. Subsea procurements for the Johan Castberg, Snorre Expansion, Askeladd and Troll phase 3 projects accounted for a third of the global market last year.

In December 2017, Equinor entered into several framework agreements with TechnipFMC and Aker Solutions for delivery of subsea equipment and services.

Through the new collaboration agreements now entered into the company is establishing a framework to ensure continuous improvements.

“The agreements give us the predictability and long-term perspective we need to work on improvements and be competitive over time,” said Peggy Krantz-Underland, Equinor’s senior vice president for procurement and supplier relations.

Two separate agreements have been signed with identical objectives. The work will focus on improvements in safety, quality, cost and technology from concept through project execution and subsea operations services.

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