Aker Solutions Wins Subsea Order for Nova Project

February 27, 2018 - Aker Solutions won an order from Wintershall Norge AS to provide the subsea production system, umbilicals and services for the Nova oil and gas field offshore Norway, highlighting the value of early engagement in projects.

The system will consist of two templates with manifolds, seven subsea trees including one spare, umbilicals and associated tie-in and controls equipment for Nova. The order includes installation and commissioning support services. 

"We're pleased to be selected to deliver the subsea production system for Nova," said Executive Vice President Knut Sandvik, who heads Aker Solutions' projects delivery center. "The cost-optimized system is a result of our close cooperation with Wintershall in the front-end engineering phase and we'll continue to work together through execution."

Getting involved in the earliest stage of a field development increases the potential to make a project more efficient, creating more value for the customer. It also puts Aker Solutions in a strong position to secure work in the next phases of a development. Last year, 12 of Aker Solutions' front-end engineering and design contracts led to fully-fledged projects.

Work for Nova starts immediately and involves facilities in Norway, the UK and Malaysia. Final deliveries are scheduled for 2019 and 2020.

Nova has total recoverable reserves of 80 million barrels of oil equivalent. The field is expected to come on stream in 2021. Nova will be tied back to the Gjøa platform, which is about 60 kilometers west of Florø in northwestern Norway.

The companies agreed not to disclose the value of the contract, which will be booked in the first quarter.

ENDS

Media Contact:
Stina Kildedal-Johannessen, tel: +47 55 22 28 00, mob: +47 934 12 301, e-mail: stina.kildedal-johannessen@akersolutions.com

Investor Contact:
Fredrik Berge, tel: +47 22 94 62 19, mob: +47 450 32 090, e-mail: fredrik.berge@akersolutions.com

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 14,000 people in about 20 countries. Go to http://akersolutions.com for more information on our business, people and values.

This press release may include forward-looking information or statements and is subject to our disclaimer, see http://akersolutions.com