BAKU, Azerbaijan, May 4. Norway’s Equinor has exercised one-year extension options under three contracts for integrated drilling and well services, along with two-year options under 18 corporate framework agreements covering specialist services, Trend reports via the company.
The integrated drilling and well services contracts are valued at NOK 8.3 billion, while the framework agreements for specialist services are estimated at around NOK 4.3 billion annually over a two-year period.
Contracts for integrated drilling and well services have been awarded to Baker Hughes Norge AS, Halliburton AS and SLB Norge AS. These companies, together with 15 additional suppliers, have also secured framework agreements for specialist services.
The specialist service agreements are aimed at ensuring access to the expertise and technologies required to improve the efficiency of well operations and respond to evolving needs on the Norwegian continental shelf.
As the shelf matures, drilling and well activities are becoming increasingly critical for sustaining output. Equinor aims to maintain production at around 1.2 million barrels of oil equivalent per day through 2035.