Aker Solutions wins drilling equipment contract

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17 June 2011 - Aker Solutions has won a contract from Daewoo Shipbuilding & Marine Equipment to supply a complete drilling equipment package for a new deepwater drill ship.

The contract is worth about NOK 540 million. The drill ship will be owned and operated by Tungsten Explorer Company, a subsidiary of Vantage Drilling Company (NYSE Amex: VTG).

"We are very pleased to have won another contract to deliver our deepwater drilling equipment and systems, which underlines our strong and fruitful relationships with the yard and the team at Vantage Drilling" says Thor Arne Håverstad, executive vice president and head of Aker Solutions' drilling technologies business.

Bill Thomson, VP Assets and Engineering at Vantage Drilling says: "We appreciate the commitment by Aker Solutions to provide a drilling package that meets and exceeds our expectations.  This will be the seventh drilling package from Aker Solutions that Vantage will be involved in.  As such Aker Solutions' commitment to deliver not only an excellent service during the construction but to provide a first-class customer service when in operations is important to the success of Vantage Drilling. "

The equipment will mainly be delivered in 2012.

Aker Solutions offers complete drilling equipment packages, including project management, engineering, procurement and commissioning. We provide the full range of topside drilling equipment and systems, and worldwide customer support through our global drilling lifecycle services organisation.

END

For further information, please contact:

Media:

Ivar Simensen, VP Communications, Aker Solutions. Tel: +47 46 40 23 17

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 visit www.akersolutions.com/suppliers

Career opportunities:

Visit http://www.akersolutions.com/careers

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global oil services company that provides engineering and construction services, technologies, product solutions and field-life solutions for the oil and gas industry. 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 47 billion and employs approximately 20 000 people in about 26 countries. These figures include Aker Solutions' wholly owned subsidiary Kvaerner, which will be de-merged and listed on Oslo Stock Exchange in July 2011.

 

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 pursuant to section 5-12 of the Norwegian Securities Trading Act.

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