Aker Solutions wins five-year MMO contract from Aker BP

Core Insights - Aker Solutions has secured a five-year contract from Aker BP for maintenance, modification, and operation services on the Norwegian Continental Shelf, with a projected value between Nkr8bn ($841.32m) and Nkr12bn [1] - The contract includes options for two additional four-year extensions starting from March 1, 2026 [1] Group 1: Contract Details - The agreement covers multiple areas including Alvheim, Edvard Grieg, Ivar Aasen, Fenris, Skarv, Ula, Valhall, and the newly developed Yggdrasil area [2] - Aker Solutions aims to enhance project execution and delivery through a next-generation MMO alliance [2] Group 2: Technological Advancements - The project will set a new benchmark for remote operations and low-manned and unmanned production platforms, focusing on new technology and advanced methods to increase efficiency and reduce costs [3] - The alliance will utilize digital and AI-driven methodologies and implement a commercial model that incentivizes performance improvements [3] Group 3: Industry Impact - Aker BP emphasizes the need for a step change in productivity on the Norwegian Continental Shelf, which this alliance aims to deliver [4] - The project is expected to provide substantial local benefits, stimulating activity within the Norwegian industry [4] Group 4: Operational Aspects - Engineering and project management will take place in Stavanger, Sandnessjøen, and Mumbai, with fabrication work at Aker Solutions' facilities in Egersund and Sandnessjøen [5] - Offshore personnel will have work opportunities as part of this contract, which will be recorded as intake in the first quarter of 2026 under the Life Cycle segment [5]