16 February 2012 - Aker Solutions has been awarded a contract by Statoil to deliver six subsea trees and a tool package for Troll on the Norwegian continental shelf. Estimated contract value is NOK 350 million.

Scope of work includes six subsea trees, with a possible option for nine further subsea trees, including control systems.

The Troll field is located in the northern part of the North Sea, approximately 65 kilometres west of Kollsnes, near Bergen in Norway. The field contains 40 per cent of the total gas reserves on the Norwegian continental shelf and is also one of the largest oil fields on the continental shelf. Under this contract, Aker Solutions will deliver equipment to the oil section of Troll.

"Having been involved in Statoil's Troll projects from the beginning in 1996, we are proud to still play a part in this industrial milestone. The Troll field represents a cornerstone of Norway's offshore oil and gas production and we are delighted to be awarded such a prestigious North Sea contract," says Alan Brunnen, executive vice president of Aker Solutions' subsea business area.

The Troll field is the world's biggest subsea development with regards to the number of subsea wells. Last year, Aker Solutions reached a major milestone in delivering the 100th subsea tree to the Troll field. The contract awards and deliveries for Troll have helped to shape and develop Aker Solutions' subsea business. 

A subsea tree is a key technology enabling oil and gas production directly from a subsea well to a processing facility. The tree is essentially an advanced set of valves and is used together with associated technologies to control the well flow. The subsea tree is an integral part of a subsea production system. The tool package is needed to operate the fourth rig to be employed by Statoil on the Troll field.

Aker Solutions' contract party is Aker Subsea AS. Equipment deliveries will be made from 2012 to 2015.

ENDS

For further information, please contact:

Media:
Severin Roald, VP communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: severin.roald@akersolutions.com

Investor relations:
Astrid Thommesen Sæbø, VP Investor Relations, Aker Solutions. Tel: +47 22 94 63 37, Mob: +47 48 17 00 35, 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 ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global oil services company that provides engineering services, technologies, product solutions and field-life solutions for the oil and gas industry. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 35 billion and employs approximately 18 500 people in about 30 countries.

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