Aker Solutions to supply subsea boosting systems to Petrobras

Aker Solutions has signed a contract with Petrobras to supply eight subsea boosting systems (Mobo) and one ESDV (emergency valve) for the Jubarte field, located in the north of Campos Basin offshore Brazil. Contract value is approximately USD 37 million.

This contract follows a similar job for eight subsea boosting systems which was awarded to Aker Solutions in May 2007. Compared to the previous project, improvements have been made in the project scope to optimise oil production, such as changes in flow lines to reduce pressure loss. Additionally, pressure in the pump has increased from 3600 to 5000 PSI. There will also be changes on valves, pipes and structures, besides the inclusion of nine new tools to support the installation.

“In addition to the inherent technological innovations, this new subsea boosting system provides a significant intervention cost reduction compared to existing market technologies,” says Marcelo Taulois, President - South America, Aker Solutions.

“Among all Mobos purchased by Petrobras in Brazil, Aker Solutions has been responsible for selling 16 units, which represents a 76% market share. We are proud of our subsea boosting technology’s strong market position,” adds Taulois.

The equipment will be manufactured in Curitiba, Aker Solutions’ headquarters in Brazil. Contract party is Aker Solutions do Brasil ltda.

In September 2009, Aker Solutions successfully completed the installation of the first Mobo manufactured in Brazil. The pump was installed at 1590 meters deep in Golfinho field.

Aker Solutions ASA, through its subsidiaries and affiliates (“Aker Solutions”), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions’ business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.

Aker Solutions’ parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 23 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.

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