Aker Solutions signs subsea contract with Repsol

4 February 2010 - Aker Solutions has signed a contract with Repsol Investigaciones Petroliferas S.A. for delivery of subsea equipment to the Spanish oil company's Mediterranean wells. Contract value is approximately NOK 120 million.

Scope of work includes manufacturing and delivery of 12 kilometres of steel tube umbilicals, eight kilometres of subsea power cables, a topside control system and tie-in and connection system.

This deal follows a contract awarded to Aker Solutions in Q1 2008 for delivery of two subsea trees with control modules to the same field development project. The new equipment deliveries will complete the subsea production system and enable Repsol to connect the subsea trees to the production platform.

"We are very pleased to continue working with Repsol on this project. These latest deliveries help underline our ability as provider of field-wide subsea solutions. We see this contract as a recognition of our past performance," says Mads Andersen, executive vice president, Aker Solutions.

The project will be managed out of Oslo, Norway. Umbilicals and power cables will be manufactured in Moss, Norway. Control system will be manufactured in Aberdeen and Malaysia. Final equipment deliveries will be made in Q1 2011.

Aker Solutions' contract party is Aker Subsea AS.  

ENDS

For further information, please contact:

Media:

Endre Johansen, VP Communications, Aker Solutions. Tel: +47 22 94 58 91, Mob: +47 416 10 605, e-mail: endre.johansen@akersolutions.com 

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact BA Global Sourcing Champion, telephone number found here: http://www.akersolutions.com/Internet/SuppliersCentre/Contacts/SupplyManagementContacts.htm.

Career opportunities:
Visit http://www.akersolutions.com/careers

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities. 

Aker Solutions' parent company is Aker Solutions ASA.  Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 22 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.  

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.

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