Aker Solutions to Deliver Subsea Production System for the Eldfisk North Development

The scope covers a complete subsea production system including 13 standardized vertical subsea trees, wellheads, control systems, three six-slot templates with integrated manifolds, and associated services. Work starts immediately and will involve Aker Solutions’ facilities in Brazil, Malaysia, Norway and the UK. Final deliveries are scheduled for 2024.

"We look forward to continue our long-standing relationship with ConocoPhillips in Norway and to further develop the Eldfisk field," said Maria Peralta, executive vice president of Aker Solutions’ subsea business.

In October 2020, Aker Solutions was awarded a contract by ConocoPhillips to provide the subsea production system for the Tommeliten Alpha development.

Eldfisk is an oilfield discovered in 1970 located south of the Ekofisk field in the Norwegian North Sea. It is the second largest of three producing fields in the Greater Ekofisk Area, and one of the largest on the Norwegian continental shelf. The water depth is 70 meters with the reservoir located at depths of about 2,500-3,000 meters below the seafloor.

The award will be booked as order intake in the first quarter of 2021 in the Subsea segment.

The project development is subject to a final investment decision by the license partners and regulatory approval by Norwegian authorities.

1Aker Solutions defines a large contract as being between NOK 1.2 billion and NOK 2.0 billion.

ENDS

Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 14,000 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

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Lars Kulsrud, Senior Manager, Communications, Aker Solutions, on March 25, 2021 at 14:45 CET.

Torbjørn Andersen

Torbjørn Andersen

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Fredrik Berge

Fredrik Berge

Head of Investor Relations

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