Equinor buys inspection services for $385 million

The agreements will be awarded to Aker Solutions AS, Axess AS, Oceaneering Asset Integrity AS and IKM Operations AS, taking effect from 1 January 2020. The agreements have a fixed duration of six years plus two four-year options.

The total value, including options, is estimated at just above NOK 3.5 billion (US $385.1 million), where the scope will employ around 300 to 400 people per year.

“The agreements will ensure predictability for both Equinor and the suppliers. They form the basis for a strong long-term collaboration, allowing us to use new technologies, achieve continuous improvement and increase safety and value creation for all parties,” Peggy Krantz-Underland, Equinor’s chief procurement officer, said.

The main purpose of the inspection services is to keep all installations in good shape and prepare for safe, reliable and efficient operations.

The services will reveal weaknesses in oil and gas installations onshore and offshore to prevent serious damages, and several technologies are applied such as ultrasound, radiography and drone inspection.

The agreements are designed to reward the suppliers for improvements in general and the use of new technology and digitalization specifically.