pr-inside.com
Print

Aker Solutions awarded major frame agreement with Statoil



2013-02-27 10:43:26 -


27 February 2013 - Aker Solutions, the international oil services provider, has
as one of several suppliers been awarded a frame agreement with Statoil for the
delivery of subsea operations and services on the Norwegian continental shelf.

Subsea operations and services covers installation of subsea equipment,
maintenance, upgrade and recertification of tools and installed equipment. It
also includes workover activities and life extension of subsea wells.

The size of the frame agreement is dependent on call-offs and the number of
projects that Statoil decides to execute.

The frame agreement with Statoil is signed for the duration of five years with
three additional three year options (5+3+3+3). Aker Solutions has booked NOK
5.5 billion of order intake as a preliminary estimate of the work to be
generated in the initial five year period, of which NOK 230 million (USD 42
million) was booked in the fourth quarter of 2012 due to prior commitments from
Statoil.

"Aker Solutions has worked with Statoil for decades and we are very honoured by
this major award. We are not only refurbishing subsea trees to guarantee an
extended lifetime, but we are also upgrading to accommodate more functionality,
enabling Statoil to increase production capacity from each well", says Alan
Brunnen, head of Aker Solutions' subsea business area.

Statoil will immediately execute a subsea refurbishment project for the Troll
field, the world's biggest subsea development with regards to the number of
subsea wells.

The new Troll contract covers the refurbishment and upgrade of subsea trees
until the end of 2014, besides the investments in long lead components for
further refurbishment at the Troll field, which is located in the northern part
of the North Sea, approximately 65 kilometres west of Kollsnes, near Bergen in
Norway.

Aker Solutions' facility at Aagotnes, outside Bergen on the west coast of
Norway, will support the projects from Statoil. This site was established in
1994, and has installed more than 200 subsea trees on the Norwegian continental
shelf.

Based on expected market developments, Aker Solutions will further develop the
service base at Aagotnes in 2013 and 2014. Two new workshops for the maintenance
of subsea equipment, new logistic facilities and a new office block which
includes state-of-the-art operational support systems, will be set up at the
existing base at Aagotnes. This will add 6 000 square metres of buildings
besides 450 new office facilities.

The Aagotnes base provides life-field support for subsea equipment, including
offshore installation and intervention support, onshore maintenance,
refurbishment and upgrades of subsea trees, control systems and intervention
work-over systems, besides maintenance, repairs and recertification of tools.
Today, the Aagotnes base employs approximately 800 people.

ENDS

For further information, please contact:

Media:
Severin Roald, Vice President Communications, Aker Solutions. Tel:
+47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: severin.roald@akersolutions.com

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39,
Mob: +47 91 13 71 94, E-mail: lasse.torkildsen@akersolutions.com

Suppliers:
For further information about sourcing and potential subcontracts for this
project, please visit www.akersolutions.com/suppliers

Career opportunities:
Visit www.akersolutions.com/careers

Aker Solutions provides oilfield products, systems and services for customers in
the oil and gas industry world-wide. The company's knowledge and technologies
span from reservoir to production and through the life of a field.

Aker Solutions brings together engineering and technologies for oil and gas
drilling, field development and production. The company employs approximately
27 500 people in more than 30 countries. We apply the knowledge and create and
use technologies that deliver our customers' solutions.

Aker Solutions ASA is the parent company in the group, which consists of a
number of separate legal entities. Aker Solutions is used as the common brand
and trademark for most of these entities. In 2011 Aker Solutions had aggregated
annual revenues of approximately NOK 36.5 billion. The company is listed on the
Oslo Stock Exchange.

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

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




This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Aker Solutions ASA via Thomson Reuters ONE
[HUG#1681444]


Press Information:




Contact Person:


Phone:
email: e-mail




Disclaimer: © 2014 Thomson Reuters. The press releases or report contained herein is protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Thomson Reuters's, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.