31 March 2011 - BP has decided to extend the maintenance and modification contract with Aker Solutions, exercising a one year option in the existing agreement for the Ula, Valhall, Hod and Tambar fields. Work under the new option will last until April 2012. The contract value is estimated to be NOK 2-300 MNOK.

The original maintenance and modification contract was signed in 2005. 

"We are very pleased that BP again demonstrates their trust in Aker Solutions. We look forward to continue our long term cooperation with BP", says executive vice president for Maintenance, Modifications and Operations in Aker Solutions, Tore Sjursen. 

Scope of work under the contract includes engineering, procurement, fabrication, installation and maintenance support services and currently employs approximately 280 people in Stavanger, 50 in Egersund and 1000 in offshore rotation. The contract also includes hook-up and completion of the new PH platform at Valhall and tie-in of Oselvar to the Ula field.

Contract parties are Aker Solutions subsidiary Aker Offshore Partner AS and BP Norway AS.

 

ENDS

For further information, please contact:

Media:

Cathrine Gjertsen, Communications advisor, Aker Solutions. Tel: +47 99 49 25 37, E: cathrine.gjertsen@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 visit www.akersolutions.com/suppliers

Career opportunities:

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

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global oil services company that provides engineering and construction services, technologies, product solutions and field-life solutions for the oil and gas industry. 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 46 billion and employs approximately 20 000 people in about 26 countries.

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.