Aker Solutions signs contract for Gudrun tie-in to Sleipner worth NOK 900 million

Statoil has awarded Aker Solutions the Sleipner Modifications Portfolio Agreement and the first project-specific agreements for engineering, procurement, construction and installation (EPCI) for the Gudrun tie-in to Sleipner in the North Sea. The order is worth approximately NOK 900 million and replaces the letter of intent announced July 14.

“We are pleased to win the portfolio agreement for modifications in the Sleipner area and we are looking forward to take on the Gudrun tie-in work for Statoil and its partners. This order confirms Aker Solutions’ leading position within advanced and complex modifications in the North Sea,” says Stian Vemmestad, president for maintenance, modifications and operations in Aker Solutions.

Positioning for more advanced and complex modifications projects in the North Sea is a strategic objective for Aker Solutions’ maintenance and modifications business (MMO).

The Sleipner area is the second largest gas producer in the North Sea, after the Troll field. Gudrun is a major field development project in the Sleipner area. Sleipner will process oil and gas from Gudrun in addition to supplying power to the Gudrun platform.

The work will be managed out of Aker Solutions’ regional office in Stavanger and will also engage prefabrication resources at Aker Solutions’ yard in Egersund. Work under the contract will be completed in October 2013.

The contract parties are Aker Solutions’ subsidiary Aker Offshore Partner AS and Statoil Petroleum AS.

ENDS

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 54 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.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)