Aker Solutions has secured a major contract renewal with ExxonMobil to continue work on the Hebron oil platform in Canada. It is important to emphasize that this is not a new contract from scratch, but an extension of a relationship that has been in place since 2015, when Aker Solutions was awarded the original contract to build and design.
Contract details
The contract will have a 5-year duration in which Aker Solutions will provide brownfield Maintenance and Modifications (M&M) services on the Hebron oil platform off the coast of Newfoundland and Labrador, Canada. The term brownfield refers to maintenance, upgrades and modifications work that are performed on existing and operating as opposed to greenfield projects, which involve new construction.
Aker plans to use its Multidisciplinary Project Delivery Model, an approach designed to deliver targeted solutions quickly and accurately, with the goal of ensuring project success and reducing costs. Services are likely to include asset integrity managementadvanced inspection services (using drones and robotics), engineering and consulting, and data management, all backed by more than 30 years of experience in the Atlantic Canada region.
Significance for Aker Solutions
Canada is an important market for Aker Solutions, this is reflected in the fact that the contract will be managed from Aker Solutions’ office in St. John’s, Newfoundland and Labrador where the company has increased its workforce from 100 to 350 employees in recent years, reflecting its long-term commitment to the region and its human capital.
In addition, the contract will be revenue recognized in the fourth quarter of 2025, which means that it is a long-term project that will bring financial stability to the company.
Source: Aker Solutions
