3 April 2008 - Aker Solutions has signed a three-year frame agreement with Petrobras to supply subsea trees and related equipment in Brazil. The agreement is worth approximately USD 223 million.
Scope of work comprises 45 subsea trees, six complete tool sets plus related accessories and spare parts. Work for all equipment will be managed and completed from Aker Solutions' manufacturing facility in Curitiba, Brazil. All delivery dates are agreed and will start Q3 2009, with final deliveries targeted for the end of 2011.
"This order demonstrates our commitment to both Petrobras and the Brazilian market, and it provides predictable deliveries and long term focus. It also allows us greater flexibility with regards to making more investments in order to capitalise further on the expected market growth in Brazil," says Marcelo Taulois, president for Aker Solutions' subsea business area in Brazil.
Aker Solutions has extensive experience delivering subsea equipment in Brazil. 150+ subsea trees, multiple subsea structures such as PLETs, PLEMs* and manifolds, plus 200+ vertical connection systems have been manufactured to the Brazilian market since the start of operations in 1995.
The contract is booked as order intake for Aker Solutions in Q1 2008. The contract party is Aker Solutions' subsidiary Aker Kvaerner Oil & Gas do Brasil Ltda.
ENDS
* Pipeline end terminations, pipeline end manifolds
For further information, please contact:
Media:
Marcelo Taulois, president, Aker Solutions's subsea business area in Brasil, + 55 (41) 3227-8402.
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194
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. The business within Aker Solutions comprises 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.
The parent company in the group is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 24 000 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-resources industries. The Aker companies share a common set of values and long traditions 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 Aker Solutions.
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