Aker Solutions Partners with Cenovus Energy for Essential Engineering Services in Canada

Aker Solutions Partners with Cenovus Energy for Engineering Services

Aker Solutions has recently finalized a major five-year agreement with Cenovus Energy Inc. to provide engineering and maintenance services for the White Rose field assets located in the eastern reaches of Canada.

The White Rose field, positioned approximately 350 kilometers from St. John's in Newfoundland and Labrador, is a significant asset in Cenovus's portfolio of offshore developments. This partnership will see Aker Solutions engaging in all-encompassing engineering and maintenance support particularly focused on the new West White Rose platform and the SeaRose Floating Production Storage and Offloading (FPSO) vessel.

Paal Eikeseth, Executive Vice President and head of Aker Solutions' Life Cycle business, emphasized that their extensive Project Execution Model will be pivotal in ensuring operations are not only safe but also predictable and efficient in terms of cost management for their clients.

Aker Solutions has a long history with the White Rose field, having been involved in supplying offshore engineering services since 2005. Their contributions have included the tow-out and installation of the Concrete Gravity Structure (CGS), along with onshore commissioning processes and offshore hookup activities for the West White Rose platform, which is anticipated to commence production in 2026.

Furthermore, Aker has been responsible for EPCM services related to the SeaRose FPSO, also starting from 2005. Their expertise has recently extended to onshore engineering and preparation work for the FPSO's Life Extension Drydock campaign that took place in 2024.

The agreement will primarily be overseen from Aker Solutions' office located in St. John's, Newfoundland and Labrador. Approximately 120 employees will play a crucial role in both onshore and offshore operations. Eikeseth noted their longstanding partnership with Cenovus Energy, stating that Aker Solutions will continue to support the development of the White Rose field, underscoring the importance of the Canadian market to their strategic goals.

This contract is set to be recorded in the second quarter of 2026 as part of the order intake under the Life Cycle segment, reflecting a notable business development for Aker Solutions. According to the company, a sizable contract is classified as those valued between NOK 0.5 billion and NOK 1.5 billion, highlighting the scale of this engagement with Cenovus Energy.

In conclusion, Aker Solutions’ collaboration with Cenovus not only reinforces its position in the offshore oil and gas sector but also illustrates the ongoing commitment to delivering innovative solutions and ensuring safe operations across the energy industry. As Aker continues to harness its expertise in multi-disciplinary services, it stands well-prepared to tackle the challenges presented by the evolving energy landscape.

For further inquiries, contact Preben Ørbeck for investor relations or Ruth Lycke for media inquiries.