Johan Sverdrup: The Making of a Giant

August 26, 2014 - Aker Solutions has assembled one of its biggest engineering
teams ever to deliver the initial plans for the engineering and design phase of
the giant North Sea Johan Sverdrup oil deposit.

The company is on track to deliver the first draft report due in the fourth
quarter, a project that has involved 400 employees in Oslo and London. The work
covers all four of the planned platforms for the first development phase,
including the so-called topsides, jackets as well as bridges spanning the
facilities.

"Johan Sverdrup represents the future of the Norwegian oil industry and we are
working closely with Statoil, the operator, to ensure the best possible
solution," said Valborg Lundegaard, Aker Solutions' head of engineering. "We
have put together our biggest-ever front-end engineering design team for this
project and the work is now two-thirds completed."

The current work has been proceeding since Aker Solutions in December received a
framework contract from Statoil to provide engineering services, procurement and
management assistance (EPma) for as many as 10 years at Johan Sverdrup. The
accord includes front-end engineering design (FEED) work building on concept
studies that Aker Solutions carried out last year for the deposit. Statoil is
the working operator for the development, which spans three licenses. The other
partners are Lundin Norway, Petoro, Maersk Oil and Det norske oljeselskap.

Johan Sverdrup is the largest offshore oil find in Norway in 30 years and is
estimated to hold 1.8 billion to 2.9 billion barrels of oil equivalents. It's
seen producing 550,000 - 650,000 barrels of oil equivalents a day when fully
developed, equal to about 25 percent of current domestic output. Production is
slated to start in late 2019 and is predicted to last for about half a century.

Maturing the Concept
Johan Sverdrup will be developed in multiple phases. This first will consist of
a field center with processing, drilling, riser and accommodation platforms.
These will be designed with an expansion in mind. They will be linked by bridges
and rest on steel jacket substructures that rise about 100 meters from the
seafloor.

The timing of the FEED phase is crucial. It develops the concept to the detail
needed that will allow contractors, yards and vendors to bid for contracts to
supply equipment and fabrication services. Many contracts need to be in place
next year for the field to start production as planned in 2019.

"We worked with Statoil throughout 2013 to identify the optimal development
solution for Johan Sverdrup," said Lundegaard. "We're very excited to now put
the finishing touches on the matured designs that will ensure the project is on
track."

The final FEED report is slated for delivery before the end of the year and will
be used by the field partners to make a final investment decision for the first
phase development. A plan for development is then expected to be submitted in
February next year to Norwegian authorities for approval. The next stage, after
approval, will be detailed design and procurement services. Aker Solutions'
contract with Statoil has an EPma option for the development's first phase and
additional options for work in later phases.

Delivery Model
Aker Solutions has seamless project execution models, systems and tools that
share work across locations to meet client expectations for quality, local
presence, speed and competitiveness. For Johan Sverdrup, the delivery model for
phase one has tapped expertise in Oslo, London and Mumbai.

"Aker Solutions' delivery model draws on complementary capability, capacity and
experience from all areas of our global organisation," Lundegaard said.

Johan Sverdrup Field Center in Phase One

Processing Platform
Function: To process oil and gas to enable transport to shore. The oil handling
design capacity is 315,000 boe/day (50,000 Sm3/day) divided into two trains and
gas capacity 6 MSm3/d. The processing system includes 3 stage separators, gas
dehydration and gas recompression equipment, gas export compressor, gas-fired
heaters, produced water processing equipment etc.

Topside Dry Weight: 23,000 metric tons
Topside Dimensions: 100m x 25m

Riser Platform
Function: The Riser Platform (RP) is a combined riser/utility platform and
provides water and chemical injection, oil and gas export, field power and can
be used for future tie-ins. The platform is designed for a total of 45 risers
and J-tubes as well as 10 caissons. The topsides are supported on an eight-
legged jacket structure.

Topside Dry Weight: 19,000 metric tons
Topside Dimensions: 125m x 30m

Drilling Platform
Function: To enable platform drilling and well intervention. The Drilling
Platform (DP) will also provide well bay, production and injection manifolding
functionality. The DP topside includes a module support frame (MSF), drilling
support module (DSM) and drilling equipment set (DES). Ancillaries include two
platform cranes and supports for bridges to the Riser and Process Platforms. The
platform is based on a 4x12 well slot configuration, giving 48 well slots in
total.

Topside Dry Weight: 15,000 metric tons
Topside Dimensions: 40m x 83m

Living Quarters Platform
Function: To provide 450 cabins and serve as the field center (control room) for
operations and telecommunications. It will contain workshops/stores and provide
emergency power and other utilities for the field. The main mustering stations,
equipped with nine lifeboats, will be located on the LQ. A permanently stationed
search and rescue helicopter will be based here.

Topside Dry Weight: 16,500 metric tons
Topside Dimensions: 85m x 28m

Bridges
Three trussed-structure bridges of various lengths (80-120m). The bridges
include large and small-bore pipework and have enclosed access corridors for
pedestrian and fork-lift truck traffic.

Johan Sverdrup Field Facts

* Located in the Utsira High area in a mature part of the Norwegian North Sea,
140 kilometers west of Stavanger
* The water depth is about 110 meters and the reservoir is at a depth of
1,800-1,900 meters
* Production start-up scheduled for the end of 2019
* The field has a production horizon beyond 2050
* The partners in three production licenses are: Statoil, Lundin Norway,
Petoro, Maersk Oil and Det norske oljeselskap

ENDS

For further information, please contact:

Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel:
+47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani@akersolutions.com

Investor relations:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel:
+44 208 811 7111, Mob: +44 7788 338 887, E-mail:
david.phillips@akersolutions.com

Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39,
Mob: +47 911 37 194, E-mail: lasse.torkildsen@akersolutions.com

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

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

Aker Solutions is a global provider of products, systems and services to the oil
and gas industry. Our engineering, design and technology bring discoveries into
production and maximize recovery from each petroleum field. We employ
approximately 28,000 people in about 30 countries. Go to 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.




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Source: Aker Solutions ASA via GlobeNewswire
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