16 September 2009 - Dammam 7 Petrochemicals has signed a programme management agreement with Aker Solutions for the Dammam 7 acrylic acid and acrylates complex to be realised in the Jubail 2 Industrial area in Saudi Arabia. Under the agreement, Aker Solutions will provide pre- front end engineering and design and programme management services for the project.

"We are very pleased to consolidate our cooperation and we look forward to working together with Aker Solutions in the development of this project, the first of our petrochemical complexes that will reside in the newly established industrial zone of Jubail 2," said Mr. Mohammed Al Saidi, CEO of Dammam 7.

"The Middle East is a key region for us, particularly Saudi Arabia, where we are committed to growing our presence long-term and also recently established a partnership with ACEC (Arabian Consulting Engineering Centre)," said Johan Cnossen, senior vice president, Aker Solutions' Process and Construction business area. "This new agreement with Dammam 7 is an exciting opportunity for us and recognises the strong capabilities we have established on projects in the region. We are confident this long-term partnership approach will provide the best base for the highest degree of success in the development of the project."

The complex will include a world scale acrylic acid plant, plants for the production of syngas, butanol, acrylic esters, together with integrated utilities and offsite facilities. Both entities are committed to establishing a long term partnership and to making full use of the resources needed to provide a state-of-the-art, safe, reliable and highly efficient facility that is delivered on schedule and meets all of the current environmental regulations.

Established in 2004, Dammam 7 Petrochemicals is owned by Saudi shareholders, and was created to invest in and develop downstream petrochemical projects. Recently Dammam 7 secured the feedstock for its acrylic acid and acrylates complex.

Aker Solutions' contract party is Aker Process Ltd.

                                                                          

Contacts:

Saudi Arabia, Mr Mohammed H. Al-Saidi, CEO and President, Dammam 7 Petrochemicals. Tel: +96638931188, email: mohammed@alsaidi.com

Media: Vanessa Mourant, Aker Solutions. Tel: +44 (0)20 8545 0270, Mobile: +44 (0)7771 806566

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

Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact: Rodger Liang, VP Supply Management, Process & Construction, Aker Solutions, Tel:  +86 10 640 966 36

Career opportunities:
Visit http://www.akersolutions.com/Internet/CareerCentre

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 23 000 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. Through its majority-owned holding company Aker Holding AS, Aker controls 40.27 percent of the shares in Aker Solutions, and takes an active role in the development of the company.  

Aker Solutions' Process and Construction business area is a world leader in the project management, design and construction of major projects spanning refining, petrochemical processing, liquefied natural gas (LNG), metals and mining, power generation, nuclear clean-up, and acid plants.  From initial concept through technology development, process technology application, design, procurement, construction, commissioning, operations, maintenance, modification and decommissioning, we provide our customers with the full life cycle of services.  Process and Construction provides sound local expertise, combined with the depth and strength of global project operations.   

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