Aker Solutions and BP signed two framework contracts

Aker Solutions secured two five-year framework agreements for potential future deliveries of subsea production systems and lifecycle services at BP-operated oil and gas fields globally.
The first five-year contract covers engineering, procurement and construction of subsea production systems for new and maturing developments worldwide. Aker Solutions would bid for work under the contract, which sets out the terms and conditions that would need to be met. The companies also agreed on a five-year servicing agreement, coinciding with the first contract, for any equipment delivered under the first contract and to support previously installed subsea hardware. Both contracts started in August 2016.
Since the work on these contract may vary, no precise value has been disclosed for these contracts