Norway-based oil and gas company Statoil is planning to sign subsea equipment and services contracts with Aker Kvaerner Subsea and FMC Technologies. The deals are worth between NOK15 billion and NOK25 billion in total.

The contracts with the two supplier companies cover the deliveries of additional equipment for existing facilities, supply of new subsea field installations and operations maintenance. Valid for five years with options of two times two years for the equipment agreements, they first and foremost cover needs on the Norwegian continental shelf (NCS).

The signing is part of Statoil’s comprehensive review and renewal of contracts in the best practice procurement corporate initiative.

Service contracts have also been renegotiated for all Statoil-operated fields on the NCS. New agreements will be signed with the suppliers, with improvements made to the present ones.

The contracts will be signed and effective from the second half of September 2007.