Aker Solutions signs Bahrain deal

30 March 2012 - Aker Solutions has been awarded a contract by Enerserv W.L.L to deliver 600 sets of surface wellheads and trees to the Awali Oilfield in Bahrain. This is the first surface wellhead contract won by Aker Solutions in Bahrain, which marks a successful inroad into this important Middle East market.
Aker Solutions’ surface products manufacturing centre in Batam, Indonesia

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Surface trees and wellheads

Aker Solutions' is a leading global supplier of surface wellheads and trees, providing engineering, manufacturing, installation and life-of-field support services to the oil and gas industry, and is a technology and solutions innovator within the field of surface products since 1934.

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In 2009 Aker Solutions' surface business made a commitment to enter Middle East and North Africa. I am pleased that our strategy is bearing fruit now that we have successfully penetrated the market in Bahrain.

The total contract value is USD 17 million. The first delivery will be a total of 45 sets of surface wellheads and trees that will be delivered in June this year.

Dave Hutchinson, president with Aker Solutions in Asia Pacific says, "In 2009 Aker Solutions' surface business made a commitment to enter Middle East and North Africa. I am pleased that our strategy is bearing fruit now that we have successfully penetrated the market in Bahrain. We look forward to working with Enerserv."

John Moffatt, the General Manager of Enerserv says, "I am excited at the prospect of aligning with Aker Solutions to execute this contract. The interplay between our teams has been outstanding."

The contract will be delivered out of Aker Solutions' surface products manufacturing centre in Batam, Indonesia, and supported in Bahrain by a state of the art oilfield service centre at Ramsis Engineering, a sister company of Enerserv.

The Batam site was established back in 1992. In 2009, Aker Solutions upgraded the Batam facility in order to increase its production capacity. As a result, manufacturing capacity for production and assembly of surface wellheads and trees has increased by more than 50 percent, or the equivalent of 300,000 man hours. Aker Solutions employs approximately 320 people in Batam of which 90 percent are locals.

Aker Solutions is one of the world's leading oilfield products, systems and services companies. The company has 23 500 employees in 30 countries worldwide and had aggregated annual revenues of approximately NOK 36.5 billion (USD 6.5 billion) in 2011.

Contract parties are Enerserv WLL and Aker Solutions Singapore Pte Ltd.

ENDS

For further information, please contact:

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

Investor relations:
Astrid Thommesen Sæbø, VP Investor Relations, Aker Solutions. Tel: +47 22 94 63 37, Mob: +47 48 17 00 35, E-mail: astrid.thommesen.saebo@akersolutions.com

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 provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.
 
Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 23 500 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their customers' solutions.
 
Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange.

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

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