Aker Solutions Strengthens Collaboration with Equinor

"Aker Solutions and Equinor's ongoing collaboration has consistently generated mutually beneficial technology developments, working process simplifications and standardizations," says Luis Araujo, chief executive officer at Aker Solutions. "This agreement formalizes the companies' joint ambitions of achieving efficiency and improvement goals."

Several innovative and cost-efficient solutions have materialized from Aker Solutions' and Equinor's history of collaboration. Aker Solutions' newest subsea production system with vertical trees and associated tools were developed in close collaboration with Equinor, designed to be more efficient and reduce life-cycle costs. The subsea equipment is smaller and lighter than previous versions and has now become Equinor's standard solution. As well as adopting this technology on the Johan Castberg field, Equinor will use trees of the same design on its Troll and Askeladd fields offshore Norway and they have also been commissioned by other operators on the Norwegian Shelf, including Aker BP for the Ærfugl development.

"Equinor's Johan Castberg development is an example of what can be achieved when we work in close collaboration with customers," continues Luis Araujo.

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

Tor Odland

Tor Odland

Media Contact, Corporate

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+47 99 09 08 72
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Based in Fornebu, Norway

Local time: 15:54 CET

Fredrik Berge

Fredrik Berge

Senior Manager, Investor Relations

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+47 22 94 62 19
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+47 45 03 20 90
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Based in Fornebu, Norway

Local time: 15:54 CET

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