Aker Solutions to Adjust Capacity in Norway Subsea Business

Between 150 and 200 positions in Ågotnes may be affected. Adjustments will be made through normal employee turnover, reassignments to other parts of the company and dismissals.

"Our Norwegian subsea services unit has had a slow start to the year as oil companies reduce spending and delay some projects,” said Per Harald Kongelf, head of Aker Solutions in Norway. “This makes it necessary for us to adjust capacity in this area.”

Aker Solutions had about 8,000 own subsea area employees at the end of the first quarter of 2015. Approximately 3,000 of these were in Norway and the rest were in countries including Brazil, United States, Angola, Congo-Brazzaville, Malaysia and the UK.

The company is expanding internationally and is well-positioned in key subsea markets. Africa accounted for 37 percent of Aker Solutions’ NOK 48 billion order backlog at the end of 2014, compared with 30 percent for Norway, helped by major subsea contracts in Angola and Congo.

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 17,000 people in about 20 countries. Go to www.akersolutions.com for more information on our business, people and values.

Bunny Nooryani

Bunny Nooryani

Director, Communications & Investor Relations

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