Aker Solutions Secures Maintenance and Modifications Work for ConocoPhillips in Norway

OSLO, Norway, Sept. 11, 2020 /PRNewswire/ -- Aker Solutions has secured a three-year contract extension to an existing framework agreement for work at North Sea fields operated by ConocoPhillips.

The company will continue as ConocoPhillips' main supplier of maintenance and modifications work offshore Norway. The agreement runs from January 2021 until the end of 2023.

The contract value will be determined by future call-offs for maintenance and modifications work and could range between NOK 300 million and NOK 700 million per year. The range does not represent a minimum or maximum amount and is subject to change.

"We look forward to delivering new projects and services to one of the largest maintenance and modifications portfolios offshore Norway," said Kjetel Digre, chief executive officer of Aker Solutions.

The work will be managed and executed by Aker Solutions' office in Stavanger and fabrication yard in Egersund. The agreement will also provide work for the company's offshore employees.

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

Media Contact:

Ivar Simensen
Mob: +47-464-02-317
Email: ivar.simensen@akersolutions.com

Investor Contact:

Fredrik Berge
Mob: +47-450-32-090
Email: fredrik.berge@akersolutions.com

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