Equinor, Aker Solutions and TechnipFMC strengthen subsea collaboration

Source: press releases, 26 September 2018

From left, Doug Pferdehirt, CEO TechnipFMC; Torger Rød, SVP Equinor; Margareth Øvrum, EVP Equinor; Kjetil Hove, SVP Equinor; and Luis Araujo, CEO Aker Solutions
From left, Doug Pferdehirt, CEO TechnipFMC; Torger Rød, SVP Equinor; Margareth Øvrum, EVP Equinor; Kjetil Hove, SVP Equinor; and Luis Araujo, CEO Aker Solutions (photo: Equinor)

Equinor is signing collaboration agreements with Aker Solutions and TechnipFMC for subsea equipment and services on the Norwegian continental shelf (NCS) and internationally.

For several decades, the subsea segment has been central in developing Equinor and the NCS. Equinor is operating close to 600 subsea wells, which account for a considerable share of the company’s total production. Norwegian supplier industry is in the forefront of subsea technology, development and operation.

“We are building on many years of good cooperation with two world-leading suppliers in the subsea segment. Together with TechnipFMC and Aker Solutions we aim to further develop current solutions and keep up the pressure on continuous improvements that enables future profitable projects,” says Margareth Øvrum, Equinor’s executive vice president for Technology, Projects & Drilling.

During the past years the whole industry has worked systematically on transitions aiming to achieve profitable and safe operations. The improvement effort throughout the industry has enabled Equinor to sanction projects that previously could not have been realised.

In 2017, Equinor and its partners sanctioned projects for more than NOK 90 billion on the NCS. Subsea procurements for the Johan Castberg, Snorre Expansion, Askeladd and Troll phase 3 projects accounted for a third of the global market last year.

In December 2017 Equinor entered into several framework agreements with TechnipFMC and Aker Solutions for delivery of subsea equipment and services. Through the new collaboration agreements now entered into will establish a framework to ensure continuous improvement.

“The agreements give us the predictability and long-term perspective we need to work on improvements and be competitive over time,” says Peggy Krantz-Underland, Equinor’s senior vice president for procurement and supplier relations.

Doug Pferdehirt, CEO of TechnipFMC, comments, “We are extremely honoured to extend our partnership with Equinor globally while enabling a new way of working together, from early engagement through integrated project execution – leveraging next generation technology and digitalisation. We firmly believe that success is achieved through collaboration and that this agreement will increase the competitiveness of both companies.”

“Aker Solutions and Equinor’s ongoing collaboration has consistently generated mutually beneficial technology developments, working process simplifications and standardisations,” says Luis Araujo, chief executive officer at Aker Solutions. “This agreement formalises the companies’ joint ambitions of achieving efficiency and improvement goals.”

Two separate agreements have been signed with identical objectives. The work will focus on improvements in safety, quality, cost and technology from concept through project execution and subsea operations services.