STAVANGER, Norway – Apply Sørco has secured new frame agreements for maintenance, replacements and modifications (M&M) from Statoil worth about NOK 4 billion ($458 million) over the next six years.
The contracts include a main supplier agreement, replacing the current M&M agreement, and a competition-agreement related to modification projects Statoil chooses to offer for competitive bidding outside the main M&M contract.
The frame agreement has a duration of 10 years and covers all of the company’s installations onshore and offshore Norway.
CEO Per Hatlem said: “The awards are a declaration of Statoil’s trust in Apply Sørco and come as a consequence of the deliveries we have made under the current agreement.
“Recent years have been challenging and it is a great motivation for the whole organization to be trusted with today’s contract awards. Over time, we see potential openings for hiring of new employees, both onshore and offshore, to meet requirements in the project portfolio.”
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