(RTTNews) - Aker BP ASA (AKRBF, AKRBP.OL), a Norwegian oil and gas exploration and production company, on Monday awarded a long-term Maintenance, Modification and Operation contract to Aker Solutions ASA (AKRTF, AKSO.OL) covering all Aker BP-operated assets on the Norwegian continental shelf.
The agreement runs for five years from March 1 and includes options for two additional four-year extensions.
The next-generation MMO alliance is intended to support marginal field developments and the modernization of existing facilities.
The partnership will operate through fully integrated teams across the value chain to shorten timelines, enhance quality and improve productivity.
Efficiency gains are expected through closer organizational integration, greater use of data-driven and AI-supported workflows, and a performance-linked commercial model.
On Friday, Aker BP closed trading, 0.40% lesser at NOK 274 on the Oslo Stock Exchange.
On Friday, Aker Solutions closed trading, 0.59% lesser at NOK 37.24 on the Oslo Stock Exchange.
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