The contract is for a term of five years. The scope of work covers offshore assets which require maintenance and upgrades to maintain production levels.
The revenue under the awarded contract over the full term is equivalent to approximately USD 400 million.
Aker Solutions expects the negotiations to be completed and a binding contract to be signed by end of first quarter 2020.
Aker Solutions will book its full corresponding revenue under the contract as order intake in the quarter of the contract's signing.
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.
This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.