Energy industry services group Aker Solutions has landed a £304million deal to continue providing maintenance work for Statoil’s operations off Norway.
The two-year deal extends Aker’s current agreement to provide maintenance and modification work on the Snorre, Gullfaks, Visund and Åsgard fields.
The extension, which will take effect from August 2014, will include engineering, procurement, installation and construction work, along with corrective maintenance on the sites.
Meanwhile Aker has also sold off its well intervention services arm to a Swedish private equity fund for £240million.
The deal will EQT will see Aker taking a quarter of any rate of return larger than 12% on the equity investment.
“The sale is part of a strategy to increase our focus on the deepwater and subsea oil-services markets, where Aker Solutions is well-positioned,” said Øyvind Eriksen, executive chairman of Aker Solutions.
“The well-intervention services business has limited synergies with the rest of the company and will be better able to develop its full potential with EQT as the owner.”
The division employs around 1500 staff around the world, including at Aker’s UK base in Portlethen, with the focus on UK and Norwegian markets.