ConocoPhillips Skandinavia AS has entered into a six‑year frame agreement with Aker Solutions, effective January 2027, that will provide brownfield maintenance and modification services on the Eldfisk and Ekofisk offshore fields in Norway. The contract is valued between NOK 2.5 billion and NOK 4 billion—roughly $250 million to $400 million—and includes an option to extend for two additional three‑year periods.
The deal aligns closely with ConocoPhillips’ strategy of maintaining and extending the life of mature assets while keeping operating costs low. By locking in a long‑term service provider for key fields, the company can better predict maintenance expenses, reduce downtime, and support its focus on shareholder returns.
Aker Solutions, a leading Norwegian offshore service provider, will manage the work from its Stavanger office and fabricate components at its Egersund yard. The agreement builds on a previous three‑year extension that ran from January 2024 to the end of 2026, reinforcing a partnership that has already delivered reliable service on these fields.
Paal Eikeseth, Executive Vice President of Aker Solutions’ Life Cycle Business, highlighted the importance of standardized, efficient solutions that reduce costs without compromising safety. The contract’s long‑term nature underscores the confidence both companies have in each other’s execution capabilities.
The agreement will be booked as an order intake in Aker Solutions’ fourth‑quarter 2025 financials, adding to the company’s life‑cycle revenue pipeline. For ConocoPhillips, the contract provides a stable, predictable service cost base that supports continued production and aligns with its broader operational strategy.
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