Source: Aker Solutions
Statoil (NYSE:STO) has exercised a one-year option to extend its contract with Aker Solutions at the Mongstad refinery in Norway. The estimated contract value for 2011 totals approximately NOK 100 million and the work will occupy about 120 employees from Aker Solutions in Bergen, Norway.
The oil refinery at Mongstad is a modern highly-upgraded plant with an annual capacity of 10 million tonnes of crude. It is the largest facility of its kind in Norway.
The scope of work for Aker Solutions mainly comprises minor modifications to increase robustness and generally improve the facility. The option period commences January 1, 2011.
In 2005 Statoil awarded Aker Solutions a modifications framework agreement for the Mongstad refinery. Remaining options in the running minor modifications contract includes a one year option followed by a two year option.
Most crude oil refined at the Mongstad plant comes from the Norwegian continental shelf. The principal outputs are petrol, diesel oil, jet fuel and other light petroleum products. Most of the refinery's output is exported, particularly to continental Europe.
The contract parties are Aker Solutions' subsidiary Aker Offshore Partner AS and Statoil ASA.