Vår Energi has granted Aibel a five-year maintenance and modification (M&M) contract, with an estimated value of Nkr1.2bn ($119m), to support operations in the Goliat and Gjøa fields of Norway.

The contract, which includes options for three additional two-year periods, is part of Vår Energi's strategy to enhance operational efficiency and value creation in its core areas in the Barents and North Seas regions.

The contract covers a range of deliveries and services essential for the upkeep and improvement of the Goliat and Gjøa fields.

These fields are considered vital assets for Vår Energi, boasting considerable potential for future resource extraction.

During the tender process, Vår Energi placed a high emphasis on competitiveness, addressing industry-wide challenges such as increased cost levels and lower productivity on the Norwegian continental shelf.

The company prioritised improvement plans, synergies, local content, and competence, particularly in early-phase projects.

Vår Energi COO Torger Rød said: “This contract ensures local deliveries that create activity, ripple effects, and employment in Hammerfest and Florø, where the two fields have their supply and logistics bases.

"In addition to technical deliveries, Aibel AS will provide engineering support and project management, hence becoming an integrated and important part of our teams at Goliat in the north and at Gjøa in the west.

"Through this contract, we will benefit from Aibel AS' solid competence and experience working on the Norwegian continental shelf. By having the same supplier for the Gjøa and Goliat installations, we expect to extract significant synergies on the deliveries.”