Aibel has been awarded major Equinor framework agreements strengthening Aibel's leading position within maintenance and modifications on the Norwegian continental shelf.
The framework agreements have a fixed duration of five years, with options for extension of an additional three and two years. The total value is estimated to NOK 20 billion for the fixed agreement period. The final portfolio allocation will be determined once the contracts are signed, scheduled for January 19-25.
The main framework agreements cover a number of on- and offshore installations. In addition, Aibel has been awarded a competitive framework agreement for extended modifications and projects including both ongoing and new on- and offshore projects. The agreements are expected to provide a significant workload for Aibel and a solid foundation for further development of technology, organization and infrastructure.
"Since 2022, we have had a strategic long-term collaboration with Equinor, where a key focus has been improvements within maintenance and modifications. We are therefore proud of the trust Equinor places in us by once again choosing us as the supplier of maintenance and modification of critical infrastructure at both on- and offshore facilities. We look forward to continuing a close and successful collaboration, where we can contribute to the ongoing safe, profitable and sustainable development of the Norwegian continental shelf," says Mads Andersen, President and CEO of Aibel.
"I am both very happy and proud of Aibel for their exceptional performance and competence in their field. These awarded framework agreements are well-deserved and a strong recognition of their capabilities," says Gustaf Salford, President and CEO of Ratos.
About Aibel
Aibel is a leading provider of EPCI services (Engineering, Procurement, Construction, and Installation) who designs, builds, and maintains offshore platforms and other critical infrastructure for the energy industry. The company is one of the largest suppliers of innovative and sustainable solutions on the Norwegian continental shelf. In addition, Aibel holds strong positions within the European offshore wind industry and in the electrification of offshore oil and gas installations and onshore processing plants. 5,300 employees work at the company's offices in Norway, Thailand and Singapore. Aibel owns modern yards in Haugesund, Norway, and in Laem Chabang and Map Ta Phut, Thailand, with significant prefabrication and construction capacity. Aibel is owned by Ferd (50%), Ratos (32%) and Sixth Swedish National Pension Fund (18%).
For more information, please contact:
+46 70 616 50 19, anna.vilogorac@ratos.com
Katarina Grönwall, VP Communications & Sustainability
+46 70 300 35 38, katarina.gronwall@ratos.com
About Ratos
Ratos is a Swedish publicly listed business group consisting of 14 companies across three business areas: Construction & Services, Industry and Consumer. The Group operates mainly in the Nordic region, with net sales of SEK 32 billion and an adjusted EBITA of SEK 2.3 billion in 2024, and with a total workforce of around 10,900 employees. Ratos is headquartered in Stockholm, Sweden.
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 subsidiaries to excel by being part of something larger.
