Ratos company Aibel awarded extended frame agreement at Johan Sverdrup in the North Sea


Equinor has decided to extend the maintenance and modification agreement (M&M) at Johan Sverdrup for the period 2023 to 2026. Aibel values the agreement as a significant contract. Aibel uses the term ’significant’ on contracts where the value for Aibel is between NOK 0.5 and 1.5 billion.

In 2019, Aibel was awarded, together with Aker Solutions, M&M assignments at Johan Sverdrup until 2022 as a call-off in the companies’ existing M&M frame agreements. Equinor has now decided to extend this arrangement with both Aibel and Aker Solutions with duration until February 2026.

“As the owner, we are very proud of the continued trust Aibel receives from Equinor, a customer that has played a major role in AIbel's development over time. Now the ties are further strengthened and thus also Aibel's prospects for the future,” says Christian Johansson Gebauer, member of the Board of Directors of Aibel and President, Business Area Construction, Ratos.

“This is very positive for the M&M part of our business, and especially for the Stavanger office and the fabrication work in Haugesund, Norway and offshore. We have received good feedback from Equinor regarding deliveries, expertise, and cooperation at Johan Sverdrup. This has formed the basis for the extension of the agreement, and now it is important that we continue the good M&M work for the years ahead,” says Mads Andersen, President and CEO of Aibel.

In addition to the M&M agreement, Aibel has been a major contributor to the Johan Sverdrup development. The company has had contracts related to Johan Sverdrup of around NOK 30 billion.

For further questions, please contact:
Josefine Uppling, VP Communication, Ratos
+46 76 114 54 21, josefine.uppling@ratos.com

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 28 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.