Aker Solutions Awarded Letter of Intent for Askeladd Vest

June 30, 2020 - Aker Solutions has received a letter of intent from Equinor to deliver the subsea production system for the next phase of the Askeladd natural gas development in the Barents Sea in northern Norway.

The development of Askeladd Vest is phase two of the multi-phased Snøhvit gas development in the Barents Sea.

"We are pleased to extend the series of deliveries to Equinor under the NCS 2017+ framework agreement," said Luis Araujo, chief executive officer of Aker Solutions. "The Askeladd Vest subsea production system is based on our standard technology and products currently being delivered to several ongoing projects, including Johan Castberg, Troll phase three, Askeladd phase one and the recently awarded Breidablikk project". 

The scope of the expansion of the Askeladd field includes one template with a manifold, and two subsea trees with associated control systems.

Aker Solutions estimates the value of the potential contract to be about NOK 400 million, which is expected to be booked as order intake in the second quarter of 2020.

The contract will include deliveries from the company’s sites in Tranby, Egersund and Ågotnes in Norway as well as Brazil, Malaysia and the UK.

Contract award is subject to Equinor and partners' approval and final investment decision later this year.

ENDS

Media Contact:
Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@akersolutions.com

Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com

Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 15,000 people in more than 20 countries.

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About Us

Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 16,000 people in more than 20 countries.

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