Coor secures offshore agreement extension with Equinor

1 April 2020 (Last Updated April 1st, 2020 15:50)

Swedish firm Coor has secured offshore facility management services extension from Norwegian oil and gas firm Equinor.

Coor secures offshore agreement extension with Equinor
The Statfjord A platform in the North Sea. Credit: Equinor ASA.

Swedish firm Coor has secured an extension to its contract for offshore facility management from Norwegian oil and gas firm Equinor.

Coor said the three-year extension is part of an option on its March 2015 contract, which Equinor has now used.

Since 2015, Coor has delivered facility management services to five Statfjord and Snorre oil platforms.

The Statfjord field is the largest oilfield in the Norwegian Continental Shelf (NCS). It lies in blocks 33/9 and 33/12 of production licence (PL) 037 in the NWC, and block 211/25 of PLs 104 and 293 in the UK North Sea.

Meanwhile, the Snorre field is located in blocks 34/4 and 34/7 of the Tampen area, about 200km west of Florø in the Norwegian North Sea.

The agreement is valued at SEK200m ($19.8m) per each year and the latest extension will be effective from July this year.

Coor president and CEO Mikael Stöhr said: “The offshore delivery is an exciting contract that focuses on health and safety in an environment different from our other contracts. The fact that Equinor has now chosen to extend the agreement confirms our position as the market leader in IFM in Norway and the Nordic region as a whole.”

In January this year, Equinor and its partners approved plans to extend production from Statfjord field until 2040.