SOURCE: Aker Solutions ASA

February 24, 2009 02:54 ET

Aker Solutions awarded contract on Shtokman

LYSAKER, NORWAY--(Marketwire - February 24, 2009) -


24 February 2009 - Shtokman Development AG has awarded a consortium comprising Aker Solutions, Technip France and SBM Offshore a contract for the Concept Definition and Front End Engineering Design (FEED) for the Floating Production Unit (FPU) for the Integrated Development of the Shtokman Gas & Condensate Field Phase I project. The contract value is euro 25 million.

The scope of work includes design, FPU concept definition, FEED design for the hull, turret & mooring system and topsides. The work will be performed by an integrated team involving the three partners of the Consortium, with Aker Solutions as leader.

The consortium will also tender for the full an Engineering, Procurement Supply Construction and Commissioning (EPSCC) contract in 2010.

The work will start immediately and be carried out over the next 12 months.

- We are very pleased to be part of the initial phases of the development of the world's largest offshore gas field. Equally important for us is the establishment of the partnership with Technip and SBM. We build on each others' expertise and capabilities and are able to take on more assignments than what we could do alone, says Simen Lieungh, President & CEO in Aker Solutions.


ENDS

For further information, please contact: Media: Jannik Lindbaek, SVP Corporate Communications, Aker Solutions. Tel: +47 67 51 30 36, Mob: +47 977 55 622

Investor relations: Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194

Suppliers: For further information about sourcing and potential subcontracts for this project, please contact BA Global Sourcing Champion, telephone number found here: http://www.akersolutions.com/Internet/SuppliersCentre/Contacts/SupplyManagementContacts.htm.

Career opportunities: Visit http://www.akersolutions.com/Internet/CareerCentre

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. 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 58 billion and employs approximately 23 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.

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

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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