Aker Solutions wins its largest UK subsea contract
1 July 2013 - Aker Solutions has won a contract worth up to USD 440 million (approximately NOK 2.7 billion) to deliver the subsea production system for an oil field development in the UK North Sea.
The delivery includes 25 subsea trees and six template manifolds. It also encompasses associated controls, wellheads and tie-in equipment for the field, which is one of the biggest projects currently under development in the UK North Sea.
"This is the single-largest subsea contract that we've won in the UK," said Alan Brunnen, head of Aker Solutions' subsea business. "It further consolidates our position in the UK, which is our biggest hub outside of Norway."
The order includes subsea technologies that are new to the UK market, including manifolds and trees that can enable the use of hydraulically submersible pumps to improve oil recovery and flow assurance. Aker Solutions will also provide diverless horizontal tie-in systems and slim line rigid lockdown wellheads for the development.
Aker Solutions' main office at Fornebu in Norway will handle central management, engineering and procurement for the project. The company's Tranby facility outside of Oslo will manufacture the subsea trees, while production of the manifolds and system integration testing will be carried out at the company's offshore yard in Egersund on the west coast of Norway. Aker Solutions' subsea operations in Aberdeen will manufacture the control systems and wellheads. It will also provide lifecycle-support services.
The first deliveries are scheduled for the first half of 2014. Aker Solutions has withheld the name of the field and the operator.
The contract has been signed and booked as order intake in the second quarter of 2013.
ENDS
For further information, please contact:
Media:
Severin Roald , VP Communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: severin.roald@akersolutions.com
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 91 13 71 94, E-mail: lasse.torkildsen@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 provides oilfield products, systems and services for customers in the oil and gas industry world-wide. 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. The company employs approximately 28 000 people in more than 30 countries. We apply the knowledge and create and use technologies that deliver our 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 2012 Aker Solutions had aggregated annual revenues of approximately NOK 45 billion. The company is listed on the Oslo Stock Exchange.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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