Oil-related companies form a partnership

CEO of Det Norske, Karl Johnny Hersvik CEO of Det Norske, Karl Johnny Hersvik.Photo: Vidar Ruud / NTB scanpix

The Norwegian oil company and Subsea 7 have agreed on a cooperation model for oil and gas development in Norway, including the lowering of costs.
– Our industry needs to find new more sustainable ways methods of production of oil and gas developments, said the CEO of Det Norske, Karl Johnny Hersvik, in an announcement.

Instead of a project- by-project cooperation, the new alliance will cooperate closely to combine the companies expertises in order to reuse technology, solutions and experiences, thus finding the most cost effective solution.

– We see this as a new and exciting way to work together, as operators and vendors with many potential benefits, not only for our companies, but also for the entire industry, said Luis Araujo of Aker Solutions.

The contracts have a value of about 2.8 billion NOK, of which about 800 million are Aker Solutions’ portion and 2 billion belong to Subsea 7. The amounts may change depending on how much work the Norwegian companies  do under the agreement.


Source: NTB scanpix / Norway Today