Statoil exercises one year option with Aker Solutions at Mongstad refinery

29 October 2010 - Statoil exercises a one year option to extend its contract with Aker Solutions at the Mongstad refinery in Norway. The estimated contract value for 2011 totals approximately NOK 100 million and the work will occupy about 120 employees from Aker Solutions in Bergen, Norway.

The oil refinery at Mongstad is a modern highly-upgraded plant with an annual capacity of 10 million tonnes of crude. It is the largest facility of its kind in Norway.

The scope of work for Aker Solutions mainly comprises minor modifications to increase robustness and generally improve the facility. The option period commences 1 January 2011.

In 2005 Statoil awarded Aker Solutions a modifications framework agreement for the Mongstad refinery. Remaining options in the running minor modifications contract includes a one year option followed by a two year option.

Most crude oil refined at the Mongstad plant comes from the Norwegian continental shelf. The principal outputs are petrol, diesel oil, jet fuel and other light petroleum products. Most of the refinery's output is exported, particularly to continental Europe.

The contract parties are Aker Solutions' subsidiary Aker Offshore Partner AS and Statoil ASA.

ENDS

For further information, please contact:

Media:
Mariken Holter, VP Communications, Aker Solutions. Tel: +47 67 52 74 35, Mob: +47 917 87 358

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 the relevant BA Global Sourcing Champion.

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 54 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.

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