Aker Solutions Awarded Contract for the Brevik Carbon Capture Project

The project will start in January 2021 and work will be completed in 2024. The contract has a value of about NOK 500 million.

The plant will become the world’s first large-scale capture plant at a cement producer, capturing some 400,000 metric tons of CO2 annually. 

Aker Carbon Capture is the main contractor for engineering, procurement and construction (EPC) and will apply its proprietary and patented technology for carbon capture. The company is responsible for the delivery to Norcem HeidelbergCement of a complete new facility for capture, intermittent storage and offloading of CO2, with integrated waste-heat recovery. Aker Solutions’ scope includes engineering, procurement and management assistance (EPMa) for the new installation. 

"This is a key step for Aker Solutions’ strategy to be the supplier that enables customers and societies to accelerate the transition to more sustainable industry activities. Through close collaboration we will complement Aker Carbon Capture in their role as main contractor and specialists on CCS technology. For the Norcem facility in Brevik, we will contribute with our strong expertise in engineering and project management," said Kjetel Digre, chief executive officer of Aker Solutions.

Aker Solutions expects around 100 employees will be involved in delivering these services. The project includes deliveries from the company’s offices in Fornebu and Mumbai, with most of the work being performed in Norway. 

"We are pleased to have Aker Solutions supporting Aker Carbon Capture in this ground-breaking project, reflecting the partnership set-up and mindset between the companies," said Valborg Lundegaard, chief executive officer of Aker Carbon Capture. 

The development in Brevik is part of the Norwegian government’s Longship demonstration project to realise the full value chain for carbon capture and storage. Longship also includes the development of new installations for permanent storage in the seabed off the west coast of Norway. On December 17, 2020, Aker Solutions announced contracts of about NOK 1.3 billion for delivering the CO2 receiving facilities Northern Lights, as well as subsea equipment for injecting captured CO2 into a reservoir for permanent storage. The CO2 captured in Brevik will be transported to the Northern Lights project for permanent storage. 

Realizing Northern Lights means that multiple companies across northern Europe now have a real opportunity to remove their CO2 emissions and transform their industries into sustainable businesses.

The contract will be booked as order intake in the fourth quarter of 2020 in the Renewables and Field Development segment.

ENDS

Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 15,000 people in more than 20 countries.

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

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.