Aker Solutions wins Draupne FEED contract

22 March 2012 - Aker Solutions has won a contract from Det norske oljeselskap to conduct a front-end, engineering and design (FEED) study for the Draupne field on the Norwegian continental shelf.

The study will be carried out by Aker Solutions' newly established engineering office in London, and delivered to the license partners in Q4 2012. The contract value is undisclosed.

"I am very pleased that Det norske has decided to follow on the pre-FEED contract with the award of the topsides FEED contract for the Draupne development. The Draupne pre-FEED was the first contract awarded to the re-established Aker Solutions engineering entity in London. The new award confirms the successful build-up of our London office," says Valborg Lundegaard, executive vice president and head of engineering in Aker Solutions.

London
Aker Solutions in 2011 decided to re-enter the London engineering market. Only a few months after opening the new office in Chiswick Park, the company is once again becoming a significant player in the London market. The engineering office now counts 90 employees, and Aker Solutions expects to be around 200 people by the end of 2012.

Draupne
The Draupne field is located to the west of Stavanger in the North Sea. The partners in the Draupne field have agreed with the partners in the Luno field on a coordinated development solution for the area. Draupne will be developed using a fixed platform with pre-processing, and the well stream will be transported from the Draupne platform to Luno for final processing and export to the markets.

Det norske is the operator and owner of 35 per cent of the Draupne license, together with Statoil (50 per cent) and Bayerngas Norge (15 per cent).

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:
Astrid Thommesen Sæbø, VP Investor Relations, Aker Solutions. Tel: +47 22 94 63 37, Mob: +47 481 70 035, E-mail: astrid.thommesen.saebo@akersolutions.com

Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers

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

Aker Solutions is one of the world's leading providers of oilfield products, systems and services. The company's knowledge and technologies span from reservoir to production and through the life of a field.
 
Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. Its approximately 18 500 people in more than 30 countries understand the challenge related to these activities. They apply the knowledge and create and use technologies to provide products, systems and services that deliver their customers' solutions.
 
Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion.
 
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.

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