////

Aker Solutions Wins Topside Modification Contract for ConocoPhillips’ Tommeliten Alpha Development

September 10, 2021

Aker Solutions has been awarded a large[1] topside modification contract by ConocoPhillips Skandinavia AS for Tommeliten Alpha, offshore Norway. Combined with previous subsea contracts for this field development, the contract award means Aker Solutions has been assigned an integrated responsibility for this field development. Photo credit: ConocoPhillips

The topside modification contract award follows final investment decision by the license partners and the completion of the front-end engineering and design (FEED) work, awarded in October 2020. The scope includes engineering, procurement, construction, and installation (EPCI) work for topside modifications on some Ekofisk installations, to tie-back and integrate the Tommeliten Alpha field development to the existing infrastructure.

The work will be led by Aker Solutions’ offices in Fornebu and Stavanger, and includes construction work at the companies yard in Egersund, as well as offshore work at the Ekofisk Complex. Work starts immediately with planned completion in the third quarter of 2023.

"We look very much forward to working together with the field operator ConocoPhillips on this important field development. Aker Solutions has leading expertise in subsea solutions and topside modifications and we expect increased activity for tie-back projects moving forward," said Kjetel Digre, chief executive officer of Aker Solutions.

Aker Solutions was previously awarded contracts for the subsea production system as well as umbilicals and direct electrical heating (DEH) systems for Tommeliten Alpha. This means Aker Solutions, to date, has won contracts with a combined value of more than NOK 2.7 billion for this field development.

Tommeliten Alpha is a discovery in the southern part of the Norwegian sector in the North Sea, approximately 25 kilometers southwest of the Ekofisk field. The water depth is 75 meters. The discovery was proven in 1977. The reservoir contains a gas condensate fluid and lies at a depth of about 3,000 meters.

Aker Solutions will book about NOK 1.2 billion as order intake in the third quarter of 2021 in the Electrification, Maintenance and Modifications segment.

The Tommeliten Alpha development is subject to final regulatory approval by Norwegian and UK authorities.

¹Aker Solutions defines a large contract as being between NOK 1.2 billion and NOK 2.0 billion.

ENDS

Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 15,000 people in more than 20 countries.

Visit akersolutions.com and connect with us on Facebook, Instagram, LinkedIn, Twitter and YouTube.

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

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Lars Kulsrud, Senior Manager, Communications, Aker Solutions, on September 10, 2021 at 16:15 CEST.