Aker Solutions Awarded Subsea Contract for Breidablikk

The contract covers the delivery of four subsea templates and up to 23 subsea trees and associated components. The deliveries include Aker Solutions’ standard, lightweight vertical subsea trees, and Vectus™, the company’s next-generation subsea control system, which offers greater data and power capabilities.

"We are very pleased to see the Breidablikk project move forward, following the interim measures by the Norwegian authorities this summer," said Kjetel Digre, chief executive officer of Aker Solutions. "The award demonstrates our competitive position in the subsea market and will lead to more activity at many of our facilities in Norway and internationally, creating work for hundreds of employees across Aker Solutions. We look forward to continuing our long-standing collaboration with Equinor in this project."

The work will be carried out at Aker Solutions' locations in Fornebu, Tranby, Egersund, Sandnessjøen and Ågotnes, with additional deliveries from Brazil, Malaysia and the UK.

Aker Solutions booked NOK 2 billion related to the first 15 subsea trees in the second quarter of 2020 and will book NOK 0.5 billion for the additional eight subsea trees as order intake in the third quarter of 2020.

Breidablikk is a large oil discovery on the Norwegian Continental Shelf located north-east of the Grane field in the North Sea. Breidablikk will be developed as a subsea field with a tie-back to the Grane platform by Equinor and partners Petoro, Vår Energi and ConocoPhillips.

The project development is subject to final approval by the Norwegian authorities.

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 13,000 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

Local time: 07:46 CEST

Fredrik Berge

Fredrik Berge

Director, Investor Relations

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+47 22 94 62 19
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+47 45 03 20 90
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Based in Fornebu, Norway

Local time: 07:46 CEST

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