StS-ISONOR enters a long-term strategic partnership for the delivery of modification and maintenance services for Vår Energi's operations on the Norwegian continental shelf.
Press release January 22, 2025, Bergen;
The partnership is established between Vår Energi, StS-ISONOR, Aker Solutions, and Honeywell.
Photo credit: Vår Energi.
From left: Pål Eikeseth (Aker Solutions , Ingrid Solheim (StS-ISONOR), Torger Rød (Vår Energi), Geir Myhre (Honeywell)
The contract has a duration of 5 years, with options for extensions up to 11 years.
The strategic partnership aims to create value through joint project planning, safe and efficient execution, collaboration, and shared goals. The partnership builds on an already established collaboration model with clear incentives to work as an integrated team.
Vår Energi's COO, Torger Rød, is pleased to initiate a four-party collaboration with the team:
"Aker Solutions, Honeywell and StS-ISONOR represent world-leading technical expertise and extensive experience in areas of strategic importance to our activities. With Vår Energi's clear growth ambitions, a strong and long-term partnership is crucial. We are working purposefully to achieve results through close collaboration, actively utilising our partners’ core competencies. By year-end, we will increase production to around 400 thousand barrels per day, which makes us one of the world's fastest-growing oil and gas companies.”
"We at StS-ISONOR are proud to enter into this strategic partnership with Vår Energi, Aker Solutions, and Honeywell. This collaboration provides us with a unique opportunity to contribute our technical expertise and experience in modification and maintenance services. We look forward to working closely together to achieve common goals and create value through innovative project planning and efficient execution. Together, we will strengthen our market position and contribute to Vår Energi's growth ambitions," says Ingrid Solheim, CEO of StS-ISONOR.
Vår Energi's operations span the entire Norwegian Continental Shelf with a diversified portfolio of around 200 licences and 42 producing fields.
Background
In December 2024, StS-ISONOR signed a new ISO maintenance and modification contract with Vår Energi ASA. The agreement includes a wide range of ISO services, as well as specialized services such as pipe and tank renewal, habitat, and access technology related to the operation, maintenance, and modifications of all Vår Energi's self-operated installations; Goliat, Gjøa, Balder, Ringhorne, and Jotun. The contract has a potential value of 2 billion NOK over the contract period.
The partnership agreement now being entered into builds on the established framework agreement and elevates the collaboration and partnership to a new level.
Contact
Ingrid Solheim, Managing Director,
Tel: +47 91807455
Photo credit: Vår Energi
