Aker Solutions ASA : Aker Solutions set to support redevelopment of landmark subsea field 13 March 2013 -Aker Solutions, the international oil servicesprovider, has secured a NOK 650 million(GBP 70 million) contract with BP to help redevelop one of the largest oil fields in the UK sector. Aker Solutions has secured a NOK 650 million (GBP 70 million) contract with BP to help redevelop one of the largest oil fields in the UK sector.The Aberdeen operation of Aker Solutions will manufacture and supply all subsea controls equipment for the Quad 204 project, the redevelopment of the Schiehallion and Loyal fields located approximately 100 miles west of the Shetland Islands. The scope of work includes subsea controls equipment for subsea trees, manifolds and subsea safety isolation valves as well as controls distribution assemblies. The Schiehallion and Loyal fields are estimated to contain a further 450 million barrels of recoverable oil and a GBP 3 billion upgrade is underway. Due to the water depth in the area, Schiehallion is entirely reliant on subsea production technology and is collected on a floating production, storage and offloading vessel (FPSO). Alan Brunnen, head of Aker Solutions' subsea business said: "West of Shetland is an exciting area for oil and gas and we are delighted to continue our successful relationship with BP by playing such a significant role in the continuing development of this project." "Our subsea business continues to grow from strength to strength, enabling our clients to operate in deeper and harsher environments. Our subsea controls centre of excellence is based in Aberdeen, so it is fantastic to be able to service such a high profile project in its local market." The deliverables will be managed, designed and built by Aker Solutions' subsea controls centre of excellence in Aberdeen with the first deliveries made in the first half of 2014. Aker Solutions is the world leader in providing subsea production control systems for the oil and gas industry. This state-of-the-art technology allows subsea wells to be monitored and managed remotely through a complex series of hydraulic and electrical connections between the surface and the seabed, reducing the need forremote operated vehicle (ROV) intervention. Aker Solutions is one of the largest employers in the North East of Scotland, employing more than 2 700 staff. In May 2012, the company made a commitment to create 500 additional jobs in the region within 24 months. ENDS For further information, please contact: Media: Severin Roald, Vice President Communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: firstname.lastname@example.org Investor relations: Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 91 13 71 94, E-mail: email@example.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 27 500 people in more than 30 countries. We apply the knowledge and create and use technologies that deliver our 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#1684762
Aker Solutions ASA : Aker Solutions set to support redevelopment of landmark subsea field
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