Energy, Automobile, EV, Renewable News | Equinor signs collaboration agreement with Aibel

Equinor signs collaboration agreement with Aibel

May 13, 2022

Equinor and Aibel have entered into a strategic collaboration agreement.

The ten-year agreement aims to ensure predictability, which will be important to both parties in times of many great and important opportunities.

For several years Aibel has been one of Equinor’s key collaboration partners. As an example they were awarded the majority of contracts for further development of mature fields on the Norwegian continental shelf (NCS) in 2020 and 2021. Equinor has contributed to a major share of Aibel’s earnings, and the companies have for several years worked on a joint improvement effort to strengthen safety and efficiency in the projects.

“Equinor has clear ambitions for the energy transition, and we have a high activity level in oil and gas, renewables and low-carbon technologies. Through this strategic collaboration agreement we create security for both parties, giving Aibel an opportunity to get more assignments, while we know that we will be able to deliver our projects with the high quality that Aibel is known for and we depend on to succeed,” says Geir Tungesvik, executive vice president for Projects, Drilling & Procurement.

Key supplier

Aibel is Equinor’s key supplier of maintenance and modification services on offshore and onshore installations. The framework agreement with Aibel on these services was recently extended to March 2026. CEO of Aibel, Mads Andersen, sees the new collaboration agreement as an important step to further develop the companies’ joint improvement agenda, not least in terms of safety. At the same time he is proud of Aibel being the first company with which Equinor is signing such a strategic agreement.

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