Aker Solutions signs subsea EPC contract for Oselvar

Aker Solutions has been awarded an EPC contract by DONG E&P Norge, as operator of the Oselvar field, to deliver a complete subsea production system to the North Sea field development. Contract value is approximately NOK 350 million.

Scope of work includes engineering, procurement and construction (EPC) of a four-slot template with manifold, three subsea trees, control systems, subsea wellheads and 28 kilometres of steel tube umbilicals.

A similar EPC contract, for the Trym field, was signed between Aker Solutions and DONG E&P Norge in March his year. The Oselvar job is a contract option to the Trym agreement. The Oselvar contract is subject to Norwegian government approval of the plan for development and operation (PDO).

“We are pleased to once again being chosen as DONG E&P Norge’s provider of a complete subsea production system. We will utilise our extensive North Sea experience, and our local manufacturing network, to deliver a successful project,” says Mads Andersen, executive vice president, Aker Solutions.

The Oselvar field is located in the south west area of the North Sea, at approximately 70 metres water depth. The subsea production system will be tied back to the BP-operated Ula platform, located 23 kilometres from Oselvar. Current licence partners on the Oselvar field are Bayerngas Produksjon Norge, Wintershall Norge ASA and Norwegian Energy Company ASA.

The project will be managed out of Aker Solutions’ headquarters in Oslo. The subsea equipment will primarily be manufactured at Aker Solutions’ Norwegian facilities at Tranby, Moss and Egersund. Final equipment deliveries will be made in Q1 2011.

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 23 000 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.