Aker Solutions ASA: Aker Solutions Wins Maintenance and Modifications Contract From BP in Norway

November 26, 2015 - Aker Solutions won a framework agreement to provide maintenance and modifications services at BP-operated oil and gas fields offshore Norway.

The contract has a fixed period of five years valued at as much as NOK 3.2 billion. It also contains options to extend the agreement by as many as four years. The accord starts on December 1, 2015 on expiration of an existing agreement for similar services.

"This contract was won in stiff international and national competition and will help secure jobs on the west coast of Norway as well as provide crucial support for our development of operations further north," said Per Harald Kongelf, head of Aker Solutions in Norway. "We're very pleased to continue our strong partnership with BP on the Norwegian shelf."

The agreement is for work on the North Sea fields Ula, Tambar, Hod and Valhall as well as the Skarv deposit in the Norwegian Sea. The work will be managed and executed by Aker Solutions' maintenance, modifications and operations units in Stavanger and Sandnessjoeen and at the company's fabrication yard in Egersund.

"Aker Solutions is a very experienced and capable supplier that has over many years had large and demanding deliveries to BP both in development projects and in the production phase," said Eldar Larsen, vice president of operations for BP in Norway. "The company has shown great flexibility and willingness to develop and use local businesses, which is especially important for activity in Sandnessjoeen."

Aker Solutions has worked with BP in Norway for more than twenty years and signed the first long-term framework agreement contract of this type with the company in 1999.

"We look forward to continuing the constructive relationship we've developed over the years with BP as we work together to find the most cost-effective solutions for these fields," said Knut Sandvik, head of Aker Solutions' maintenance, modifications and operations business.

ENDS

For further information, please contact:

Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: [phone], Mob: [phone], E-mail: [e-mail] (mailto:[e-mail])

Anne Cecilie Lund-Andersen, Media Relations Manager, Aker Solutions. Tel: [phone], Mob: [phone], E-mail: [e-mail] (mailto:[e-mail])

Investors:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel: [phone], Mob: [phone], E-mail: [e-mail] (mailto:[e-mail])

Lasse Torkildsen, Senior Advisor, Aker Solutions. Tel: [phone], Mob: [phone], E-mail: [e-mail] (mailto:[e-mail])

Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers (http://www.akersolutions.com/suppliers)

Career opportunities:
Visit http://www.akersolutions.com/careers (http://www.akersolutions.com/careers)

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 16,000 people in about 20 countries. Go to www.akersolutions.com (http://www.akersolutions.com/) for more information on our business, people and values.

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com (http://www.akersolutions.com/).

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aker Solutions ASA via Globenewswire

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