Equinor Extends Framework Agreement with IKM Testing AS

Source: www.gulfoilandgas.com 11/20/2023, Location: Europe

Equinor has awarded IKM Testing a four-year extension to a major framework agreement that covers all of Equinor's offshore installations and onshore facilities in Norway until the second quarter of 2028.

IKM Testing and Equinor are continuing their strategic collaboration within critical Turnaround and Shutdown services. Through close and integrated collaboration for several years, the companies have jointly developed technology and methods for efficient operation and optimal execution of Turnarounds. The agreement ensures substantial activity for IKM Testing both from the headquarters Sola as well as branches in Bergen, Kristiansund and Hammerfest.

The contract covers the planning and execution of activities related to turnaround shutdowns. This includes assistance in shutting down installations, testing, and cleaning during the shutdown period, as well as preparing for the restart of production after the completion of the turnaround. Additionally, the framework agreement is utilized for maintenance during regular operation periods between turnarounds.

The framework agreement was initially established in 2016 and has expanded in scope over the period, including more installations in the agreement. The annual turnover under the framework agreement has ranged between 200-300 million Norwegian kroner in recent years, and the estimated value of the extension is 1 billion Norwegian kroner.

'Equinor is a very important customer for IKM Testing. Over the years, we have developed strong relationships and close collaboration through our framework agreements, providing us with solid predictability and stability in our operations. We are a proud service company that is very grateful for the trust Equinor shows us with this extension. With this extension, in addition to our existing order backlog, we will continue to make new hires and build expertise to meet future needs in the energy sector," states Vidar Haugland, CEO.

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