Norwegian state-owned multinational energy company, Equinor, announced on Friday that it is extending its contracts with Baker Hughes, Halliburton, and Schlumberger for integrated drilling and well services on Equinor-operated fields on the Norwegian continental shelf (NCS).
These companies, trusted oilfield services providers in the oil and gas industry, are all sub-contractors of ExxonMobil in Guyana.
Equinor is also extending its contracts for additional services with the same companies and 13 other suppliers; the two-year contracts will begin from June 1.
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Valuing approximately NOK 14 billion (£1.2B), the extension will see around 2,000 people employed across 18 fixed platforms and 10 mobile rigs.
The total value of specialist services in the same period is calculated at close to NOK$6B (£510,000) and will employ some 600 people, the company outlined.
Chief Procurement Officer, Mette H. Ottøy, noted that for Equinor, long-term supplier relations is critical in an industry swaying rapidly between good and more challenging times.
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“It ensures predictability and is important to develop this industry in a safe, efficient and sustainable way,” she added.
“We are pleased to extend these contracts, and it’s an expression of the good collaboration with our suppliers; these contracts are central in our value creation on the NCS,” Ottøy said.