Norwegian oilfield services firm Beerenberg has failed to secure an extension to a maintenance services frame agreement on the Ekofisk field in the Norwegian sector of the North Sea.

The company on Monday afternoon said that it was unsuccessful in its re-tender relating to the maintenance frame agreement for the ConocoPhillips-operated field.

Beerenberg said that the estimated annual turnover of the current contract is around NOK 400 million (around $47 million).

According to the Norwegian news website Offshore.no, the new frame agreement for work on Ekofisk has been secured by Beerenberg’s rival Bilfinger, and will last for a maximum of nine years.

Beerenberg’s CEO Morten Walde said it was too early to say what consequences this will have for the company’s employees, however, he added he couldn’t rule out downsizing.

The Greater Ekofisk Area is located in the southern part of the North Sea, 300 kilometers southwest of Stavanger. In addition to the Ekofisk field, the area consists of the producing fields Eldfisk and Embla, both of which are part of production license (PL) 018.

All three fields are operated by ConocoPhillips on behalf of the license co-venturers. Ekofisk production license is located in block 2/4 on the Norwegian Continental Shelf. The water depth in the area is between 70 and 80 meters.