Bilfinger Industrier has signed a contract with ConocoPhillips for maintenance work on the Ekofisk field.
The win comes after the company lost a maintenance contract with oil major BP in February, resulting in the loss of 150 jobs.
The agreement will see Bilfinger and ConocoPhillips work together for a maximum of nine years.
According to reports in Norwegian media, it is among the largest contracts of its kind on the Norwegian Continental Shelf.
The contract is also expected to employ more than 300 staff in the years ahead.