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Aker BP’s Board Approves Field Development Projects

December 2, 2022

Aker BP’s board of directors yesterday decided that Aker BP will vote for the approval of the NOAKA field development project, the Valhall PWP-Fenris project, the Skarv Satellite project and the Utsira High projects. Aker BP is the operator of these development projects, which are predominantly planned to be executed together with Aker BP’s alliance partners.

The final decisions to submit the Plan for Development and Operation (PDO) to Norwegian authorities are scheduled to take place in the respective license partnerships during the first half of December. If the PDOs are approved by the respective license partnerships the plan is to submit the PDOs to the authorities before year-end.

Aker Solutions has through the Aker BP alliance models executed the Front-End Engineering and Design (FEED) work for these projects over the last year, under a single source supplier setting. Aker Solutions expects that the abovementioned projects combined could lead to contract awards worth around NOK 45 billion of order intake in December 2022, subject to the PDO submission in mid-December 2022.

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 15,000 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 Daniel Ingebricson, Communications, Aker Solutions, on December 2, 2022 at 07:03 CET.