Aker Solutions ASA: Competition authorities approve subsea joint venture between Aker Solutions, SLB and Subsea7
August, 4 2023 – Reference is made to the stock exchange release August 30, 2022 regarding the agreements to form a subsea joint venture with SLB and Subsea7. Closing is subject to regulatory approvals.
Following clearance as of today by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have been obtained, including required clearances in Angola, Mozambique, Australia, Norway, the United Kingdom and the United States. All approvals/clearances obtained are unconditional.
The joint venture is planned as a milestone in subsea production economics, helping customers unlock reserves, reduce time to first oil, lower development costs, and achieve decarbonization goals. The three companies will bring together deep reservoir domain and engineering design expertise, extensive field-proven subsea production and processing technology portfolios, world-class manufacturing scale and capabilities, and a comprehensive suite of life-of-field solutions to customers around the world.
The parties will continue to work to satisfy the remaining conditions for closing, and aim to close as early as practicably possible in the fourth quarter of 2023.
ENDS
Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email: torbjorn.andersen@akersolutions.com
Investor Contact:
Preben Lund Ørbeck, mob: +47 470 10 611, email: preben.orbeck@akersolutions.com
Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 16,000 people in more than 20 countries.
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This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by Svend Thürmer, Senior Advisor, Communications, Aker Solutions, on August 04, 2023 at 20:00 CEST.