Aker Solutions signs world first subsea gas compression contract

1 December 2010 - Aker Solutions has been awarded the Åsgard subsea compression
system contract by Statoil. The contract value is approximately NOK 3.4 billion.

“This award signifies a quantum leap for subsea gas compression within the oil
and gas industry. As one of the major subsea contracts awarded during 2010, this
has been a key target for Aker Solutions. It confirms our position as the
preferred partner of subsea technology, solutions and capability,“ says Mads
Andersen, executive vice president of Aker Solutions' subsea business area.

When gas is produced the pressure in the reservoir decreases and the well flow
may need boosting in the form of compression. In many instances, subsea
compression technology is necessary to create enough pressure for the
hydrocarbons to travel up the pipelines to the receiving terminal.

The subsea compression system provides improved energy efficiency and safety,
and lower investment and operating costs when compared to using a traditional
platform and is a concept suitable for most large subsea gas fields.

Aker Solutions' scope of work for the subsea compression system includes a
subsea compressor manifold station (SCMS), subsea compressor station (SCSt)
template structure, three identical compressor trains, all electrical control
systems, high voltage electrical power distribution system, topside equipment,
and tooling, transport and installation equipment.

“We are extremely pleased to be chosen for this huge milestone contract with
Statoil. The synergies we have developed with Statoil on the Ormen Lange gas
compression pilot project have given us valuable experience which we can now
transfer to this project. Over 25 years of development and long term commitment
have led to this Åsgard award,“ says Andersen.

Åsgard is located at Haltenbanken outside Norway in water depths varying from
240-310 metres. The Midgard and Mikkel reservoirs contain gas and condensate
that are transported through long distance flowlines to the Åsgard B platform.


The project will be managed out of Aker Solutions' headquarter in Oslo; Norway,
while the equipment will be primarily manufactured at Aker Solutions' facilities
in Egersund, and Tranby, Norway, and in Aberdeen, UK. Final equipment deliveries
will be made in stages with the SCMS and the SCSt template structure delivered
in 2013 and the compressor trains, controls and power equipment delivered in
2014.
Contract party is Aker Solutions' subsidiary Aker Subsea AS.


ENDS



For further information, please contact:

Media:
Severin Roald, VP communications, Aker Solutions, +47 22 94 55 23, Mob:
+47 92 03 00 33, E-mail:severin.roald@akersolutions.com

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39,
Mob: +47 911 37 194

Suppliers:
For further information about sourcing and potential subcontracts for this
project, please use this link:http://www.akersolutions.com/en/Utility-
menu/Suppliers/

Career opportunities:
Visithttp://www.akersolutions.com/Internet/CareerCentre

Notes to editors:
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 54 billion and employs
approximately 22 000 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. Through its majority-owned holding company Aker Holding AS, Aker
controls 40.27 percent of the shares in Aker Solutions, and takes an active role
in the development of the company.

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

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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Source: Aker Solutions ASA via Thomson Reuters ONE


Unternehmen: Aker Solutions ASA - ISIN: NO0010215684