Aker Solutions Wins 20-Year Umbilicals Master Order With Chevron

The scope of the Chevron agreement includes the delivery of engineering, design and manufacturing of dynamic and static control umbilicals, dynamic and static power umbilicals, and service and installation support.

This agreement lays the foundation for a long-term collaborative relationship incentivizing both Chevron and Aker Solutions to jointly improve long-term performance both technically and commercially through multi-project synergies, execution excellence and repeatability, and life-of-field thinking.

"We are honored to have entered this master order with Chevron and to have been awarded the Anchor work order," said Luis Araujo, chief executive officer of Aker Solutions. "This demonstrates the mutual trust between the two organizations, as well as the capabilities and experience of our umbilicals manufacturing organization in the US."

Anchor
Aker Solutions was at the same time awarded the first work order under the Chevron master order for the Anchor project in the US Gulf of Mexico. The scope includes about 24 kilometers (15 miles) of 20,000 psi dynamic steel tube- and power umbilicals and distribution equipment. The deepwater field is located approximately 225 kilometers (140 miles) offshore Louisiana at a water depth of 1,524 meters (5,000 feet).

Aker Solutions' facility in Mobile, Alabama in the United States will perform the engineering, design and manufacturing of the umbilicals. The work will start up immediately.

The contract will be booked as order intake in the first quarter of 2020.

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

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Fredrik Berge

Fredrik Berge

Director, Investor Relations

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