Aker Solutions Signs Umbilicals Contract with ENI

Aker Solutions has signed a contract with ENI for the Block 15\06 West Hub development project in the Angolan deep water region. The contract value is approximately USD 50 million (NOK 300 million).

ENI has the operatorship of Block 15\06. The West Hub development project, which is part of 15\06, is located approximately 350 kilometres northwest of Luanda and 130 kilometres west of Soyo in Angola. The West Hub consists of the main field Sangos and two additional satellite fields called Cinguvu and Ngoma.

Aker Solutions’ scope of work includes the engineering, procurement, fabrication, and supply of static and dynamic steel tube umbilicals, totalling 34 kilometres, in addition to associated equipment and hardware.

“This contract reflects our strong ambitions for West Africa and our capabilities in Angola where Aker Solutions has invested for several years. We look forward to executing this project together with the client ENI,” says Tove Røskaft, head of Aker Solutions’ umbilicals business.

The steel tube umbilicals will be manufactured and delivered out of Aker Solutions’ facility in Moss, Norway supported by project management, design and engineering in Fornebu, Norway.

Subsea umbilicals are deployed on the seabed to supply necessary controls and chemicals to subsea oil and gas wells, subsea manifolds and any subsea system requiring a remote control.

The delivery date is in the first quarter of 2014. The contract has been signed and booked as order intake in the third quarter of 2012.

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 25 000 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their 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.