Aker Solutions starts developing Norway's oil and gas future

4 June 2012 - Statoil has awarded Aker Solutions early phase studies for all their recent major discoveries on the Norwegian Continental Shelf; the Skrugard and Havis fields in the Barents Sea and the Johan Sverdrup discovery in the North Sea. Contract values are undisclosed. The past year has been unique, with Johan Sverdrup (formerly named Aldous/Avaldsnes) as the largest out of several new discoveries in mature areas in the North Sea, and the renewed optimism for exploration in the Barents Sea, with the Skrugard and Havis discoveries. Aker Solutions will perform a concept study for the Skrugard and Havis fields, as one of several vendors. The two fields, which are located only 7 kilometres apart, will be developed as a joint solution. The work on the Johan Sverdrup field development is a feasibility and screening study. "These projects have been amongst our main target projects for 2012, so we are extremely pleased that we have won the contracts", says Henning Østvig, senior vice president of front end & technology in Aker Solutions. "The development in the Barents Sea really hits the core of our competence, with floating installations in a harsh and arctic environment. And of course we are enthusiastic to be part of the development of one of the largest oil field discoveries on the Norwegian continental shelf ever - the Johan Sverdrup field," says Henning Østvig. Opportunities up north The concept study for the Skrugard and Havis development will be executed by Aker Solutions in Oslo, with participation from its new engineering office in Tromsø. "The establishment of the Tromsø office is part of Aker Solutions' overall strategy to increase our footprint in the northern regions of Norway, driven by the increasing number of interesting field development opportunities offshore Northern Norway and in the Barents Sea," says Østvig. Aker Solutions' operations in the north of Norway are increasing, and the company is now present in Sandnessjøen, Tromsø, Hammerfest and Narvik. As a part of the concept study for the Skrugard and Havis fields, Aker Solutions will on behalf of Statoil perform a screening of potential scope to be performed by local suppliers in the northern regions for the developments ahead. The screening will be led by the Tromsø office, and could expand the ripple effects of increased oil and gas activities in the northern regions of Norway. The study work has already started. ENDS For further information, please contact: Media: Endre Johansen, VP Communications, Aker Solutions. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akersolutions.com Investor relations: Astrid Thommesen Sæbø, VP Investor Relations, Aker Solutions. Tel: +47 22 94 63 37, Mob: +47 481 70 035, E-mail: astrid.thommesen.saebo@akersolutions.com Suppliers: For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers Career opportunities: Visit http://www.akersolutions.com/careers Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field. Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 23 500 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their customers' solutions. Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange. This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Aker Solutions ASA via Thomson Reuters ONE [HUG#1616957]