Aker Solutions and Aker BP secure new, future-oriented offices in Stavanger

Source: press release, 14 June 2022

Aker BP and Aker Solutions will lease a total of 48,000 square metres divided on the two separate buildings that are a part of the ‘Valhall’ office complex
Aker BP and Aker Solutions will lease a total of 48,000 square metres divided on the two separate buildings that are a part of the ‘Valhall’ office complex (illustration: Hinna Park Utvikling)

Aker BP and Aker Solutions have signed a long-term agreement with owner and real estate developer Hinna Park Utvikling (HPU) for modern and energy-efficient office buildings in Stavanger from 2024/2025.

The new office complex will be located seaside near the leaning tower in Jåttåvågen. The total construction cost is NOK 2 billion.

“This is a great and important milestone for Aker BP and Aker Solutions. Through the agreement with HPU we secure long-term, modern and future-oriented offices for the good of the Aker companies in Stavanger. It also reflects our intention to continue with a high activity level for many years to come,” says Marius Gjære, SVP Project Resources and and location manager for Aker Solutions in Stavanger.

“The new office complex is tailor-made for flexibility and collaboration. The future offices will support our ambition to be in the forefront in the transformation of the oil and gas industry and will among other things include an integrated operation centre for remote operations of our offshore fields,” says Ine Dolve, SVP Operations and Field Development and Manager of Aker BP’s Stavanger office.

The development project has been named “Valhall” and will consist of two six-story buildings with a total of 71,000 square metres. Aker BP and Aker Solutions have signed separate long-term leases for a total of 48,000 square metres, split on the two buildings. There will also be area available for third-party tenants in the office complex.

The new buildings will accommodate extensive digital collaboration and efficient execution of activities onshore and offshore. The buildings will be located in close proximity to public transportation, including bus and train.

HPU owns of the property and will be the responsible developer in cooperation with main contractor HENT. Construction start is scheduled for September, provided public approvals.

The first phase of the development project is scheduled for completion by the end of 2024, while the remaining office space will be ready before the summer of 2025.

The parties have signed a lease agreement with a duration of 10 years for the main part of the office complex. In addition, Aker BP has signed an extended lease agreement for 15 years for a specially designed collaboration centre in one of the buildings.

During the coming 10 years, HPU is planning to transform Jåttåvågen to a central residential and business area for the region, with 1,500 housing units and 6,000 office places that will be developed together with restaurants, parks, public services and swimming areas.

With this agreement, Aker BP and Aker Solutions will play a central role in the development of the area.