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Aker Solutions Wins Contract to Deliver Subsea Production System for Total's Kaombo Development in Angola


April 15, 2014 - London

April 15, 2014 - Aker Solutions won a contract worth NOK 14 billion from Total to provide a subsea production system for the Kaombo Block 32 development in Angola.

Aker Solutions will deliver 20 subsea manifolds and 65 vertical subsea wellsets. The order also includes associated controls as well as work-over and tie-in systems. The first deliveries are scheduled for the second quarter of 2015.

"This is a landmark contract and further strengthens an important relationship with a key partner," said Øyvind Eriksen, executive chairman of Aker Solutions. "It's a significant commercial achievement for our subsea business as well as an important strategic development in our expansion in Angola and the broader region."

Kaombo, one of the world's largest subsea developments, is located in block 32 about 150 kilometers off the coast of Angola.

Joint Venture
Aker Solutions is committed to developing local content and project execution capabilities in Angola, where it employs about 130 people. The company has set up a joint venture with Prodiaman Oil Services Lda, an Angolan company that will execute local content activities related to this and other future Aker Solutions subsea projects in Angola.

"I am delighted to be part of this significant project with Aker Solutions for Total," said Prodiaman's president Pedro Godinho. "I look forward to seeing that this project makes significant contributions to the education system through knowledge transfer and job creation in a high-tech industry, all for the benefit of Angola."

Aker Solutions has been in Angola since 1999.

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

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194, E-mail: lasse.torkildsen@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 is a global provider of products, systems and services to the oil and gas industry. Our engineering, design and technology bring discoveries into production and maximize recovery from each petroleum field. We employ approximately 28,000 people in about 30 countries. Go to www.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 www.akersolutions.com.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.





This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aker Solutions ASA via Globenewswire

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GlobeNewswire

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