Aker Solutions Wins Two MMO Contracts for Åsgard A

January 25, 2016 - Aker Solutions won a front end engineering design (FEED) contract from Statoil for the Trestakk field tie-in to the Åsgard A production vessel in the Norwegian Sea. The company also secured a separate concept study order for a low well-pressure project at Åsgard A.

"We're very pleased to secure the orders for this major oil and gas field, which will help secure jobs in our MMO business in Norway," said Per Harald Kongelf, head of Aker Solutions' Norwegian operations. "We look forward to continuing our good cooperation with Statoil as we together seek to find the most robust and cost-effective solutions for these projects."

Work on both contracts will start at once and be carried out by Aker Solutions' Norwegian maintenance, modifications and operations (MMO) business. The concept study will look at ways to allow future production at Åsgard A at lower well pressures. The contract includes options for FEED and engineering, procurement, construction and installation (EPCI) services. The Trestakk agreement has an EPCI option.

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.