BP extends the Modification & Maintenance Support contract with Aker Solutions

BP has declared it’s option to extend the duration of the existing framework agreement with Aker Solutions for Modifications and Maintenance Support with two years, up to 31 March 2011. The value of the contract extension is expected to represent approximately NOK 1 000 to 1 500 million.

The framework agreement for Modification and Maintenance Support was signed with BP in 2005. This is the second option for extension being declared by BP and comprises engineering, procurement, pre-fabrication, offshore installation, commissioning and documentation.

The framework agreement includes all of BP’s current offshore facilities on the Norwigian sector, totally 12 platforms; the Valhall field centre (five platforms) plus the two unmanned flank platforms as well as the Ula field centre (three platforms) plus the unmanned platforms Hod and Tambar.

- By exercising this option BP confirms their commitment to the services our people are providing under framework agreement, says Stian Vemmestad, president in Aker Solutions for maintenenance and modifications activities.

The extent of maintenance and modification work on BP’s platforms has varied from year to year. The manning requirement at present is 200 engineers onshore and 200 offshore staff and is expected to grow through 2009 and 2010. The main activities in 2009 will include maintenance and minor modification projects, and also the Valhall Redevelopment and Valhall Flank Gas Lift projects.

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 26 000 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.