AF Gruppen has, through its subsidiary AF Offshore Decom and in a joint venture
(JV) with THREE60 Energy, been awarded a contract with bp to provide integrated
decommissioning services for their Andrew field in the North Sea. 

A first of its kind in the UK Continental Shelf, this contract will see the
joint venture assume the role of decommissioning services partner. The JV will
deliver post cessation of production (CoP) operations, well decommissioning,
facilities / pipelines / topsides preparation, substructure and topsides
disposal and subsea infrastructure removal. The JV will also work alongside the
topsides removal contractor to ensure successful unified delivery of the full
decommissioning scope.

The Andrew field is located 225 km northeast of Aberdeen and serves as a central
hub for four subsea fields. The facility features a steel structure that
integrates both drilling and production facilities, with the topsides weighing
approximately 11,100 tonnes and the supporting structure around 7,600 tonnes.
The Andrew area includes 17 platform wells, 8 subsea wells, 41 km of subsea
bundles, 42 km of umbilicals, and 2,500 tonnes of subsea equipment. 

The project will be carried out under a long-term framework agreement. The
estimated contract value at the time of contract award is up to NOK 4,000
million excluding VAT. AF Gruppen share of the activity will be approximately
30%. Order intake in AF Offshore Decom at contract award is NOK 250 million.

"AF Offshore Decom has for many years been an advocate for integrated
decommissioning solutions and we are very proud to make the move from concept to
execution together with our client bp and partner THREE60 Energy. This
initiative responds to the call for new business delivery models aimed at
reducing cost and complexity and supporting 'next generation' decommissioning,"
says Lars Myhre Hjelmeset, EVP Offshore at AF Gruppen.

Work is scheduled to begin immediately, with completion expected in 2031-2032.

For further information: 
CEO AF Gruppen, Amund Tøftum, tel. +47 920 26 712 
EVP Offshore AF Gruppen, Lars Myhre Hjelmeset, tel. +47 970 39 084