Spirit Energy Norway has signed agreements with Subsea 7, TechnipFMC and DNV GL for the development of future projects offshore Norway.
The deals are the extensions of a new type of supplier collaboration, which was started in 2015.
Spirit Energy said that the initial collaboration allowed it to develop its first project on the Norwegian Shelf with 15% below budget and six months ahead of schedule.
Spirit Energy Norway SVP and managing director Gro Kyllingstad said: “The collaboration works beyond all expectations and the results are rock solid. Therefore, we have agreed with our suppliers to continue working together in this way for the next five years.”
The latest deals have the option to extend by a further five years, subject to yielded results.
Kyllingstad said: “We associated ourselves with strong suppliers with long experience from developments on the Norwegian shelf. They have been involved in the Oda development from start to finish.
“We defined the project together; what are the best solutions and how to implement as efficiently as possible. Usually the oil companies define the work and then put it out to tender. We believed we would get better results through closer cooperation. It has turned out to be true.”
Over the next five years, Spirit Energy plans to invest an estimated £1.2bn to boost its operations.
The company has a stake in the Nova field, which is currently under development phase in the North Sea. The field is planned to commence production in 2022.
Additionally, the firm is also considering a coordinated development for several discoveries at Haltenbanken.
Discoveries such as Bergknapp, Iris, and Spirit Energy-operated Fogelberg are also considered as development candidates.
Kyllingstad said: “We are working purposefully to bring about a development of the Fogelberg discovery in the Norwegian Sea. The collaboration model we have established aims to be attractive to both suppliers and oil companies and will be used in any development.
“The idea is that open and long-term cooperation should pay off, also financially. Predictability is crucial for good results.”
Last year, TechnipFMC secured engineering, procurement, construction, and installation (EPCI) contract from Equinor for work in the Norwegian part of the North Sea.