30 March 2011 -Aker Solutions has been awarded a letter of intent (LOI) by Statoil for the engineering, procurement and construction of a subsea production system for the Fossekall-Dompap project on the Norwegian continental shelf. Aker Solutions estimates the contract value to be approximately NOK 1 billion.

Scope of work includes three template-manifold structures, 11 subsea trees, a control system and a tie-in system. The contract also contains several options for other field developments on the Norwegian continental shelf which Statoil may exercise.

"We are honoured to be so deeply involved in this innovative fast track project. Our goal is to deliver optimum standardised technologies in order to satisfy our customers' requirements. We look forward to working with Statoil on these new frontiers, which offers further growth potential opportunities," says Mads Andersen, executive vice president of Aker Solutions' subsea business area.

Management, engineering and procurement of the subsea production system will be primarily performed at Aker Solutions' headquarters in Oslo, Norway. Fabrication of the subsea trees will be completed at the Tranby manufacturing centre, Norway, production of the template-manifolds will be carried out at the Egersund yard,Norway, and the control system from Aberdeen, UK. Final deliveries will be made in Q2 2013.

Fossekall-Dompap is a fast track project located north of the Norne field, 200 kilometres west from Sandessjøen and occupies blocks 6608/10 and 6608/11 in a water depth of approximately 380 meters.

Aker Solutions contract party is Aker Subsea AS.
ENDS

For further information, please contact:

Media:

Severin Roald, VP communications, Aker Solutions, +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: severin.roald@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.