Aker Solutions Wins Troll B Modifications Contract

September 16, 2016 - Aker Solutions secured a contract from Statoil to deliver a compression module for the Troll field in the North Sea to help boost output at one of Norway's key offshore fields.

The contract is valued at NOK 370 million and is an option in a front end engineering and design (FEED) agreement awarded to Aker Solutions in January. The scope is for engineering, procurement, construction and installation (EPCI) to boost the gas treatment capacity at Troll B to increase oil recovery. Aker Solutions has worked closely with the customer to find cost-efficient solutions.

"This project has targeted key cost savings to create the sustainability the industry depends on and is looking for during these challenging times," said Knut Sandvik, head of Aker Solutions' maintenance, modifications and operations business.

The engineering work will be carried out by Aker Solutions in Bergen and module construction will start at the company's yard in Egersund in 2017. The module will be delivered in the third quarter of 2018.

The contract will be booked as part of Aker Solutions' third-quarter order intake.

ENDS

For further information, please contact:

Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: +47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani@akersolutions.com

Anne Cecilie Lund-Andersen, Media Relations Manager, Aker Solutions. Tel: +47 22 94 74 52, Mob: +47 99 62 12 13, E-mail: anne.cecilie.lund-andersen@akersolutions.com

Investors:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel: +44 208 811 7111, Mob: +44 7788 338 887, E-mail: david.phillips@akersolutions.com

Per Christian Olsen, Analyst, Investor Relations, Aker Solutions. Tel: +47 67 51 36 58, Mob: +47 900 29 077, E-mail: per.christian.olsen@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 13,000 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