Aker Solutions Wins Hook-Up Contract for Johan Sverdrup Oil Field

The company will work closely with subcontractor Kvaerner on joining together the platform's seven modules, which will be transported to Norway in the second quarter of 2018. The scope also covers planning, management and prefabrication. 

The contract value is approximately NOK 900 million and will be split about equally between Aker Solutions and Kvaerner. Aker Solutions' share will be booked in its first-quarter orders. 

"We're very pleased to continue supporting Statoil in driving forward this giant development, which will be of major importance to Norway for decades to come," said Luis Araujo, chief executive officer of Aker Solutions. 

The work starts in February and will initially involve about 100 people from Aker Solutions, Kvaerner and Statoil, rising to as many as 1,000 people at its peak next year. It will be carried out mainly in Stavanger and offshore. Kvaerner will work closely with Aker Solutions and contribute to all parts of the project delivery.

"We look forward to teaming up with Kvaerner to deliver on this next milestone step and together work with Statoil to find the best possible solutions for this major development," said Knut Sandvik, head of projects at Aker Solutions. 

The agreement also contains hook-up options for the field's processing and living quarter platforms, which are scheduled to be installed in 2019.

ENDS

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 14,000 people in about 20 countries. Go to http://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 http://akersolutions.com

Bunny Nooryani

Bunny Nooryani

Chief Communications Officer

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Based in Fornebu, Norway

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Per Christian Olsen

Per Christian Olsen

Investor Relations

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Based in Norway

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