Aker Solutions to Provide Subsea Production System for Phase Two of Aker BP's Ærfugl

The subsea delivery will include wellheads, vertical subsea trees, satellite structures, control systems, a tie-in module and about 30 kilometers of umbilicals.

The contract has a value of about NOK 700 million, which will be booked as order intake in the fourth quarter.

"The subsea alliance between Aker Solutions, Subsea 7 and Aker BP has already demonstrated great value through a series of subsea project deliveries. Close cooperation between the parties is instrumental in making both phase one and two of the Ærfugl project a success," said Egil Bøyum, executive vice president, greenfield projects, at Aker Solutions.

"Our deliveries to Ærfugl highlight the power of Intelligent Subsea, as we utilize our integrated field design capabilities to accelerate the field development and maximize performance," Bøyum adds.

The deliveries include the Vectus™ next generation subsea control system, which offers greater data and power capabilities, and Aker Solutions’ standard, lightweight vertical subsea trees.

The work starts immediately and involves facilities in Norway, the UK, India, Malaysia and Brazil. The subsea structures are scheduled for delivery in 2020.

Ærfugl is a gas condensate field about 210 kilometers offshore Sandnessjøen in Norway. It is connected back to the Skarv floating production, storage and offloading (FPSO) vessel operated by Aker BP. The field design has been optimized with respect to both subsea architecture and corresponding infrastructure, such as the FPSO topside and SURF (Subsea Umbilicals, Risers and Flowlines). The field design also includes capacity to accommodate future tiebacks in the area.

Aker Solutions delivered the subsea production system for the first phase of the Ærfugl development, as part of the company’s subsea alliance with Aker BP and Subsea 7.

Intelligent Subsea is Aker Solutions’ approach to addressing the current and future needs of subsea production through integrated field design, accelerated development and maximized performance. This approach can cut the cost of field development capex by as much as 50 percent and reduce engineering hours during development by even more.

ENDS

Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 16,000 people in more than 20 countries.

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

Ivar Simensen

Ivar Simensen

media contact, corporate

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Based in Fornebu, Norway

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Fredrik Berge

Fredrik Berge

Director, Investor Relations

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Based in Fornebu, Norway

Local time: 16:34 CET

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