Aker Solutions ASA: Aker Solutions secures long-term brownfield and modification frame agreement with Azule Energy

June 6, 2024 – Aker Solutions has secured a sizeable¹ long term frame agreement with Azule Energy to provide engineering, procurement, and construction services (EPC) for brownfield projects and modifications for two FPSOs in Angola.

This is a continuation of the current frame agreement Aker Solutions has with the operator Azule Energy. The operator is Angola’s largest independent equity producer of oil and gas and is an incorporated joint venture owned by Eni and bp.  

The scope of work is focused on two FPSO (floating production, storage, and offloading) units, namely Greater Plutonio and PSVM. The work comprises engineering, procurement, and construction services (EPC) of the brownfield maintenance and modifications scopes.   
  
The contract is a frame agreement covering maintenance and modifications activities with a duration of three years plus two one-year options.  

The contract will be executed and delivered by the Aker Solutions’ team based in Luanda, Angola, and Aberdeen, UK. The project management will be based in Angola to be close to the operation and continue to develop locally.   
  
“We are building on our robust track record in Angola, dating back to 1998. Aker Solutions is a leading service operator and has a clear ambition to grow internationally. This new contract strengthens our global life cycle operations and is a pivotal project for our offices in Aberdeen and Luanda”, said Paal Eikeseth, executive vice president and head of Life Cycle, Aker Solutions.  

Throughout the current contract period, there has been substantial growth in terms of in-country execution and the development of Aker Solutions' local workforce. Currently, over 40 percent of the total scope volume is being executed in Angola, and a significantly increased target has been set for the new contract period.   

“We are actively recruiting to enhance the strength and competence of our existing project team. Moving forward, our local business development efforts will focus on improving and strengthening relationships with local subcontractors, as well as hiring and training local personnel. We are pleased to have received renewed trust from Azule Energy and will continue to ensure the delivery of reliable and safe executions to safeguard the integrity of the FPSOs”, said Paal Eikeseth.   

The Azule Energy-contract will be booked as part of Aker Solutions' second quarter order intake in the Life Cycle segment.

¹Aker Solutions defines a sizeable contract as being between NOK 0.5 billion and NOK 1.5 billion

ENDS