Large umbilical contract to Aker Solutions on Australian continental shelf

26 March 2010 - Aker Solutions has signed a contract with Chevron Australia Pty Ltd to supply subsea umbilicals and associated equipment for the Gorgon Project, offshore Australia. Contract value is approximately NOK 550 million.

Aker Solutions will supply 264 kilometres of steel tube umbilicals to the Gorgon Project, which will develop the Greater Gorgon Area gas fields, located about 130 kilometres off the north-west coast of Western Australia.

The steel tube umbilicals will connect the Gorgon Project's subsea production system to an onshore liquefied natural gas (LNG) plant on Barrow Island, Western Australia.

"This is one of the largest umbilical contracts ever awarded", says Tove Roeskaft, senior vice president for umbilicals, Aker Solutions. "Australia has several large offshore developments coming up and this contract will allow us to demonstrate the robustness and quality of our product, which will help position us for future work in this part of the world. We will work hard to grab that opportunity."

Engineering of the umbilicals will be managed out of Aker Solutions' facilities in Oslo, Norway, and Perth, Western Australia. The steel tube umbilicals will be manufactured at Aker Solutions' facility in Moss, Norway. Final deliveries will be made in Q2 2012.

Aker Solutions' contract party is Aker Subsea AS.

The Gorgon Project is operated by an Australian subsidiary of Chevron and is a joint venture of the Australian subsidiaries of Chevron (approximately 47 percent), ExxonMobil (25 percent) and Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (one percent) and Chubu Electric Power (0.417 percent).

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.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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