Aker Solutions to Deliver FPSO Concept Study for Johan Castberg Field

January 26, 2016 - Aker Solutions has secured an order from Statoil to provide a concept study for a floating production, storage and offloading facility for the Johan Castberg oil field development in the Barents Sea.

The order is a call-off by Statoil on an engineering contract for Johan Castberg won by Aker Solutions in 2013.

"We've worked with Statoil for two years on finding a cost-effective solution that will enable development of this strategically important oil field in northern Norway," said Per Harald Kongelf, head of Aker Solutions' Norwegian operations. "The costs have been significantly reduced and we look forward to continuing to work with Statoil to optimize this development."

The Statoil-operated Johan Castberg field is located about 240 kilometres north-west of Hammerfest.

The two parties agreed not to disclose the financial value of the contract, which will be booked as part of Aker Solutions' first-quarter order intake.

ENDS

For further information, please contact:

Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: +47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani@akersolutions.com

Anne Cecilie Lund-Andersen, Media Relations Manager, Aker Solutions. Tel: +47 22 94 74 52, Mob: +47 99 62 12 13, E-mail: anne.cecilie.lund-andersen@akersolutions.com

Investors:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel: +44 208 811 7111, Mob: +44 7788 338 887, E-mail: david.phillips@akersolutions.com

Lasse Torkildsen, Senior Advisor, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194, E-mail: lasse.torkildsen@akersolutions.com

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 16,000 people in about 20 countries. Go to www.akersolutions.com for more information on our business, people and values.

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.