Subsea equipment contract to Aker Solutions

30 March 2009 - Aker Solutions has been awarded a contract by StatoilHydro for the delivery of a complete work-over system for subsea trees at the challenging high-pressure/high-temperature (HP/HT) Kristin field in the Norwegian Sea. Contract value is approximately NOK 330 million.
 
Scope of work includes engineering, procurement, manufacturing and testing of a complete work-over intervention system, including tools. A work-over system is equipment that is needed to perform well intervention activities on subsea wells. The objective of work-over operations is to maintain and increase production from the subsea wells.


The contract is a call-off from the frame agreement signed between StatoilHydro and Aker Solutions in Q3 2007. The delivery is for StatoilHydro's Kristin Tool Pool & Exploration and Production North unit.


This is the third work-over system Aker Solutions will be delivering to StatoilHydro's Kristin field, which is a high-pressure/high-temperature (HP/HT) field with temperatures up to 180°C and pressures up to 15 000 psi.


"The Kristin field has tested our engineers' skills numerous times over the years, and has helped push our technological boundaries," says Mads Andersen, executive vice president, Aker Solutions. "We are pleased to continue working with StatoilHydro on the Kristin field, and we will take this opportunity to once again demonstrate the value of our market leading HP/HT technology."


Aker Solutions has previously delivered a complete subsea production system to the Kristin field, which is located in 380 metres water depth in the south-western part of the Halten Bank in the Norwegian Sea. The field has been developed with 12 production wells in four subsea templates, tied back to a semi-submersible production platform. The gas and condensate field came on stream on 3 November 2005.


The work-over system equipment will be engineered and manufactured out of Aker Solutions' facilities at Fornebu and Tranby, Norway. Deliveries of the equipment are scheduled to be finalised in May 2010.


Contract party is Aker Solutions subsidiary Aker Subsea AS.


ENDS


For further information, please contact:


Media:
Endre Johansen, communications mangaer, 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 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. 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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