Aker Solutions has signed a frame agreement with Tullow Ghana Limited to provide well intervention services for the oil company's Jubilee and Tano deepwater fields offshore Ghana, West Africa.
The initial contract period is for three years, with two additional one-year options (3+1+1). Aker Solutions estimates that the agreement will generate annual revenues of approximately USD 4 million.
Under the agreement Aker Solutions will provide slickline and coiled tubing equipment and services, which are conducted with the objective of maximising production of oil and gas. Aker Solutions has delivered well services to Tullow's Jubilee field since 2008.
"Tullow is the largest independent oil and gas exploration and production company operating offshore West Africa. We are pleased to be able to support their ambitious growth plans through providing our technologies and services to increase oil recovery ratios," says Wolfgang Puennel, head of well intervention services in Aker Solutions.
"Ghana is an up-and-coming oil nation. This new and extended contract with Tullow provides us with a solid long term outlook for our operations there. We will utilise this to set up a more permanent presence in Ghana, which will also drive the need for a larger local workforce. This will put us in a better position to secure further oil service work in the country," adds Puennel.
Aker Solutions' contract party is Aker Qserv Ltd.