Aker Solutions awarded Valhall hook-up contract

BP Norge has awarded Aker Solutions a contract for offshore hook-up of the new process and hotel (PH) platform at Valhall. The modules for this platform are now being constructed at several yards, and will be carried to the Valhall field during summer of 2010 with a subsequent hook-up and commissioning phase. The scope for Aker Solutions also includes commissioning assistance. Aker Solutions estimates the contract value to be approximately NOK 450 million.

The old quarter and production platforms (QP and PCP) on the Valhall field will be gradually phased out due to subsidence. BP is therefore installing a new modern production and hotel platform.

“This is a considerable assignment for Aker Solutions. We are pleased to demonstrate that the scope of work falls well within our core competence. We are looking forward to take on this project and continue the good relationship with one of our key clients”, says Stian Vemmestad, President of Maintenance, Modifications and Operations in Aker Solutions.
The Valhall field is an oilfield located in the southern North Sea. It was put into production in 1982. Today the field centre consists of five installations. The new PH platform will replace two of these installations, with an accommodation capacity of 180 persons and production facility for 120 mbd oil and 143 mscfd gas.
The hook-up contract is a call-off from an existing modifications and maintenance support contract with BP Norge AS. Work under the contract starts immediately and will be completed in February 2011.
The contract party is Aker Solutions’ subsidiary Aker Offshore Partner AS.

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 22 000 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.