The
frame agreement has a fixed period of five years, from the fourth quarter of 2022
to the fourth quarter of 2027. The framework agreement will be managed from
Aker Solutions’ locations in Brazil.
The scope of
the agreement covers the delivery of complete subsea production systems,
including equipment such as subsea trees, the company’s latest generation of
subsea controls called “Vectus”, subsea distribution units and spare parts, for
Petrobras-operated fields offshore Brazil. Over the duration of the frame
agreement, it is estimated that the number of subsea trees to be called off could
be up to 33 trees. This estimate does not represent a minimum or maximum
amount.
The scope also
covers the full range of subsea lifecycle services for Petrobras-operated
fields offshore Brazil. This will include intervention, preservation, and
maintenance, as well as installation services. The service work will be managed
from Aker Solutions’ service base in Rio das Ostras in Rio de Janeiro, Brazil.
“Brazil is a
key offshore market globally and we look forward to continuing our
long-standing relationship with Petrobras. This landmark frame agreement is a
testimony to the quality our skilled employees have delivered over time in
Brazil and the value our subsea solutions and services. Aker Solutions has been
present in Brazil for more than four decades and has a proven track-record of
delivering safe, efficient, sustainable and reliable operations,” said Maria
Peralta, executive vice president and head of Aker Solutions' subsea business.
The frame
agreement continues Aker Solutions’ longstanding commitment to drive local
partnerships, with more than 50% local content rate for both SPS and SLS. The
agreement has a strong focus on safe and sustainable operations, as well
continuous improvements, including increased use of digital solutions in order
to increase efficiency, optimize execution and increase value creation for all
parties.
The work under
the frame agreement will be call-off based. Aker Solutions expects to initially
book a significant1 order intake in the fourth quarter of 2022 in
the Subsea segment, representing an estimate of the expected initial work to be
called-off. The full potential under the five-year fixed period of the frame
agreement could represent substantial2 order intake over time. This
range does not represent a minimum or maximum amount, the total value will
depend on the customer's future demands.
1Aker Solutions defines
a significant contract as being between NOK 1.5 billion and NOK 2.5 billion
2Aker Solutions defines a substantial
contract as being between NOK 2.5 billion and NOK 4.0 billion