Aker Solutions is one of several suppliers awarded a frame agreement with Statoil for the delivery of subsea operations and services on the Norwegian continental shelf. The size of the frame agreement is dependent on call-offs and the number of projects that Statoil decides to execute. The agreement is for 5 years with three additional 3-year options. Aker has booked NOK 5.5 Bn of order intake as a preliminary estimate of the work to be generated in the initial 5-year period, of which NOK 230m (US $42m) was booked in the fourth quarter of 2012 due to prior commitments from Statoil. Statoil will immediately execute a subsea refurbishment project for the Troll field. The new contract covers the refurbishment and upgrade of subsea trees until the end of 2014, besides the investments in long lead components for further refurbishment at the field.
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