10 June 2008 - Aker Solutions has been awarded a contract to deliver additional subsea well sets for phase two of the Marathon Oil Corporation (NYSE: MRO) led Alvheim development on the Norwegian continental shelf. The contract is worth approximately GBP 18 million.
Scope of work is manufacturing and delivery of five subsea trees, subsea control systems and overtrawlable protection structures. The contract is part of the frame agreement, covering the North Sea and Europe, between Marathon Petroleum Company (Norway), a wholly owned subsidiary of Marathon Oil Corporation, and Aker Solutions.
Subsea trees will be manufactured at Aker Solutions' facility at Tranby, Norway. Control modules will be manufactured in Aberdeen, UK. The project is scheduled for completion in Q4 2009.
Aker Solutions was awarded the contract for phase one of the Alvheim subsea development in 2004. The Alvheim field is located in the Norwegian sector of the North Sea.
The contract party is Aker Solutions' subsidiary Aker Subsea AS.
ENDS
For further information, please contact:
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 contact: Harald Grieg Riisnaes, vice president, Global Supply Chain, Aker Solutions. Tel: +47 67 82 68 18
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. As an industrial owner with a 40.27 percent holding in Aker Solutions, Aker ASA takes an active role in the development of its holdings.
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