Norway’s Aker Solutions has secured a long-term frame agreement with Azule Energy to provide EPC (engineering, procurement, and construction) services for brownfield projects and modifications on two FPSOs (floating production storage and offloading units) in Angola.
This agreement extends Aker Solutions’ ongoing collaboration with Azule Energy, Angola’s largest independent oil and gas producer and a joint venture between Eni and BP.
The scope of work focuses on the Greater Plutonio and PSVM FPSOs. It includes engineering, procurement, and construction services for brownfield maintenance and modifications.
The contract spans three years, with options for two additional one-year extensions.
Aker Solutions’ teams in Luanda and Aberdeen will execute and deliver the work, with project management based in Angola to ensure proximity to operations.
Currently, over 40% of the total scope is being executed in Angola, with plans to significantly increase this percentage during the new contract period.
This deal with Azule Energy will be recorded in Aker Solutions’ second-quarter order intake for the life cycle segment.
While no specific financial details were disclosed, the agreement is described as “sizeable,” valued between $47 million and $142 million (NOK 500 million and NOK 1.5 billion).
