Eighteen well service contractors have signed new agreements with Equinor to help maintain production at around 1.2 million barrels of oil equivalent per day through 2035.

The total value of these contracts is estimated at approximately 17 billion Norwegian kroner (1.8 billion dollars). The agreements cover well service operations required for drilling from both fixed and mobile rigs on the Norwegian continental shelf. Around 2,500 specialists are expected to be involved under these contracts.

Major international contractors Baker Hughes, Halliburton, and SLB have secured annual contracts for integrated drilling and well services. The range of services includes integrated drilling operations, cementing and pumping, the use of drilling and completion fluids, electric logging, and well completion work.

These three companies, along with 15 other suppliers, have signed two-year corporate framework agreements to provide a variety of specialized and specific well services. Among these 15 companies are Weatherford, Roxar Flow Measurement, Archer Oiltools, Interwell, National Oilwell Varco, Welltec, Ramex, TCO, Silixa, Tendeka, Sekal, Expro, Enventure Global, Coretrax, and Corpro Systems.

The value of the integrated drilling and well service agreements amounts to 8.3 billion Norwegian kroner, while the corporate framework agreements are valued at 8.6 billion kroner over two years.

It is expected that new wells will account for about 70% of Equinor’s production by 2035. Achieving these targets will require an increase in the number of wells and maintenance operations, which must be carried out faster and more cost-effectively than at present. To this end, closer collaboration with suppliers and active implementation of new technologies and standardization are planned.