Aker Solutions to Deliver Modules for Johan Castberg FPSO

February 13, 2018 - Aker Solutions will as a subcontractor of Kvaerner deliver modules for the floating production, storage and offloading (FPSO) vessel for the Statoil-operated Johan Castberg development, the largest oil discovery in the Norwegian Barents Sea.

The work has a value of about NOK 450 million kroner and will be booked in Aker Solutions' first-quarter orders. The company will deliver two modules for water and chemical injection from its yard in Egersund on the west coast of Norway, while its facility in Sandnessjøen in northern Norway will supply smaller modules and a flare boom.

Aker Solutions is making the deliveries as a subcontractor of Kvaerner, which today announced a contract with Statoil for delivery of the topside modules for the Johan Castberg FPSO, as well as hook-up and integration of the topside modules with the hull.

"We look forward to working with Kvaerner and Statoil on the topside modules, which provide key work at locations across Norway," said Senior Vice President Svein Oskar Nuland, who heads fabrication and offshore construction at Aker Solutions. "We will build on our previous work to find the most cost-efficient solutions for this landmark project, which is of major importance in further developing northern Norway as a petroleum region."

Aker Solutions has been directly involved in the Johan Castberg development since its earliest phases, from front-end studies through to full front-end engineering design work. The company in December won contracts from Statoil to supply the subsea production system for Johan Castberg and design the FPSO's topside. It also secured an order from Sembcorp Marine to design the FPSO's living quarters.

ENDS

Media Contact:
Stina Kildedal-Johannessen, tel: +47 55 22 28 00, mob: +47 934 12 301, e-mail: stina.kildedal-johannessen@akersolutions.com

Investor Contact:
Fredrik Berge, tel: +47 22 94 62 19, mob: +47 450 32 090, e-mail: fredrik.berge@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 14,000 people in about 20 countries. Go to http://akersolutions.com for more information on our business, people and values.

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