- Equinor's agreements, starting in 2026, span five years with options for extensions.
- Annual value of agreements is approximately NOK 10 billion.
- Equinor plans to invest NOK 60–70 billion annually in the Norwegian continental shelf.
- Agreements involve companies like Aibel AS, Aker Solutions AS, and Wood Group Norway AS.
Framework Agreements Overview
Equinor has awarded framework agreements to seven supplier companies, valued at around NOK 100 billion. These agreements are set to commence in the first half of 2026, with a duration of five years and options for extensions of three and two years. The total annual value of these agreements is approximately NOK 10 billion.
Investment and Development Plans
To support its production goals on the Norwegian continental shelf, Equinor plans to invest NOK 60–70 billion annually. This investment will focus on increased recovery and new fields, drilling around 250 exploration wells, and about 600 wells for increased recovery. Additionally, Equinor aims to perform 300 well interventions annually and around 2,500 modification projects.
Environmental and Safety Goals
Equinor is committed to reducing its greenhouse gas emissions by nearly 50% by 2030 compared to 2015 levels, while maintaining stable energy supplies to Europe. The agreements also emphasize enhancing safety and maintaining high regularity at installations and onshore facilities, with a focus on reducing climate and environmental footprints.
Supplier Involvement
The agreements involve several key suppliers, including Aibel AS, Aker Solutions AS, and Wood Group Norway AS. These companies will handle maintenance and modifications for various offshore installations and onshore plants in Norway. The agreements are expected to create around 4,000 man-years of employment at the supplier companies.
