Equinor Hands Out $10B in Supplier Contracts

Equinor has awarded framework agreements worth around $9.93 billion (NOK 100 billion) to seven supplier companies, laying the groundwork for maintenance and modification work at its offshore installations and onshore plants in Norway over the coming years.

The energy group said it had awarded 12 new framework agreements covering maintenance and modifications, with contracts set to begin in the first half of 2026. The agreements run for five years and include options for extensions of three and two years, with a combined annual value of about $1 billion (NOK 10 billion).

The contracts are intended to support safe and competitive operations across Equinor’s offshore and onshore portfolio, while providing long-term predictability for Norway’s supplier industry.

Equinor said the framework agreements underpin its plan to maintain production of around 1.2 million barrels of oil equivalent per day on the Norwegian continental shelf through 2035.

As part of that strategy, the company plans to invest about $6 billion - $7 billion (NOK 60–70 billion) annually in increased recovery and new field developments, drill around 250 exploration wells and 600 wells for increased recovery, and carry out roughly 300 well interventions and 2,500 modification projects each year.

The company also aims to mature and