Aker Solutions dives further into carbon capture

The Aker group further reinforces its carbon capture credentials when Aker Solutions today signs a FEED (front-end engineering and design) study contract with Gassnova to identify a suitable process for subsea storage of CO2.

Scope of work for the FEED study is to evaluate and develop a subsea system for injection of CO2 into the seabed.

“To play an active role in developing something as technologically challenging and environmentally significant as subsea CO2 storage means a lot to us. We are very pleased to work with Gassnova on this groundbreaking project,” says Mads Andersen, executive vice president, Aker Solutions.

Gassnova is the Norwegian state enterprise for the development of carbon management technology and implementation of carbon capture and storage.

Contract value for the FEED study, which is expected to be concluded mid-2009, is approximately NOK 12 million. The study will be managed out of Aker Solutions’ headquarters in Oslo, Norway.

“This contract further underlines the unique competence and capabilities that Aker Solutions and other Aker companies posess when it comes to CO2 handling and storage technologies. It might be a relatively small market now, but this technology has great future potential,” adds Andersen.

This news follows Friday’s announcement that Aker Clean Carbon, with Aker Solutions as commercial partner, has been awarded a contract from Gassnova to build the European CO2 Test Centre Mongstad, Norway.

Leading experts rank carbon capture as a vital technology in efforts to overcome global climate challenges. Aker Solutions and Aker Clean Carbon intend to become key suppliers of technology and turnkey facilities for carbon capture worldwide.

Contract party is Aker Solutions subsidiary Aker Subsea 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 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.