StatoilHydro and Aker Solutions sign drilling equipment frame agreement

Aker Solutions has today signed a letter of intent with StatoilHydro to enter into a frame agreement for the delivery of drilling equipment and related operational services.

The agreement will put Aker Solutions among the preferred suppliers of drilling equipment and operational services to StatoilHydro operated fields.

The agreement for the delivery of Aker Solutions drilling equipment is awarded for a three year period with an optional period of two (2) x two (2) years. The agreement for operational services will run for five years with an optional period of two (2) x five (5) years.

“We are very pleased that StatoilHydro has considered our drilling equipment solutions to be among the best and most effective ones, which makes us a good match for a leading operator like StatoilHydro”, says Roald Amundsen, President of Aker MH AS.

The contract between StatoilHydro and Aker Solutions is expected to be signed and made effective mid October 2008.

The contract party is Aker Solutions subsidiary Aker MH 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 24 000 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.