Aker Solutions Starts Trading on Oslo Exchange After Company Split

September 29, 2014 - Aker Solutions today started trading on the Oslo stock
exchange as a leaner and more streamlined company that will build on its
strengths in the subsea and field design markets.

The company emerges after a spin-off of the Subsea, Umbilicals, Engineering and
Maintenance, Modifications and Operations (MMO) businesses of the former Aker
Solutions, which has been split into two separate entities to reduce complexity,
realize synergies and bring down costs. The other company formed in the
separation is Akastor, an oilfield services investment business that will
develop the former group's other units, including Drilling Technologies.

"The split creates a simpler and more focused Aker Solutions that is better
positioned to meet the needs of customers in an increasingly competitive global
energy industry," said Luis Araujo, chief executive officer of Aker Solutions.
"We will build on our leading positions in subsea and field design through a
commitment to operational excellence, organic growth and capital discipline that
will boost shareholder value."

Aker Solutions is now more streamlined to focus on deepwater and subsea oil-
services, some of the fastest growing markets in the global oil and gas
industry. Its business areas also have operational, commercial and strategic
similarities, allowing for a swifter realization of synergies as the subsea and
field design areas share the same customers and main markets. The company's
strategy will be simpler and focused on value creation through technological
development, organic growth and operational excellence. Aker Solutions will be
uniquely positioned to design, build and maintain the future subsea production
factory. It will build on its expertise within project execution and offshore
field design.

The company is well positioned to capture growth, both in subsea and field
design. It's present in all major offshore oil and gas markets including Norway,
the U.K., Brazil and West Africa. It's also deeply involved in some of the
world's biggest projects, such as the giant Kaombo subsea development in Angola
and the huge Johan Sverdrup project in Norway. The company had a record order
backlog of NOK 54 billion at the end of the second quarter.

"We are winning market share in subsea, particularly in Brazil and West Africa,
and we are the leader in offshore engineering and maintenance and modifications
services in the North Sea market," said Araujo. "This provides us with a robust
growth outlook that's supported by a record backlog."

Aker Solutions is in the midst of adjusting its capacity to a slowdown in the
MMO market in Norway. The company is doing its utmost to avoid redundancies by
moving people to other business areas, including a subsea hub being established
in Stavanger. Other employees have been offered a transfer to a manning agency
that actively seeks to find them new positions.

"Capital discipline is the most crucial driver for oil exploration and
production companies right now and we expect this to remain tight over the next
one to two years after which we anticipate a new wave of projects," said Araujo.
"There are many exciting projects being worked on, including Johan Sverdrup, and
there is rising demand for our MMO services in other parts of the world, such as
Canada and the UK, where we recently secured a maintenance and modifications
services contract from Statoil for the Mariner oilfield development."

The company, which is trading under the ticker AKSO, today listed 272,044,389
shares on the stock exchange.

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

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 17,000
people in about 20 countries. Go to www.akersolutions.com for more information
on our 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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