May 25, 2022 - Aker Solutions has won a sizeable[1] contract from Equinor to
deliver the subsea production system for the Halten East development offshore
Norway. The development concept is a subsea tie-back to the Åsgard B platform,
using existing facilities and infrastructure. The discoveries consist of gas and
condensate.
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Aker Solutions will deliver a complete subsea production system including seven
standardized vertical subsea trees, five dual-slot satellite structures with
manifolds, a metering station, as well as control systems, wellheads and tie-in
equipment. Work will start immediately with final deliveries scheduled for the
third quarter of 2024.
"This contract once again demonstrates the value of our standardized product
offering and the benefits of the portfolio approach in our execution. We look
forward to supporting Equinor and its partners in creating value on this
important tie-back project," said Maria Peralta, executive vice president and
head of Aker Solutions' subsea business.
In addition, Aker Solutions has been awarded a separate letter of intent for the
delivery of about 90 kilometers of static subsea umbilicals for the Halten East
development. The company expects to book an order intake between NOK 300 million
and NOK 400 million related to the umbilicals contract.
About the Field
Halten East comprises six discoveries and three prospects with a combined volume
of around 100 million barrels of oil equivalent, consisting of gas and
condensate. Equinor is the operator of the development, and the other license
partners are Vår Energi, Spirit Energy and Petoro.
Both contracts will be booked as order intake in the second quarter of 2022 in
the Subsea segment.
The project development is subject to regulatory approval by Norwegian
authorities.
[1]Aker Solutions defines a sizeable contract as being between NOK 0.5 billion
and NOK 1.5 billion.
ENDS
Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email:
torbjorn.andersen@akersolutions.com
Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com
Aker Solutions delivers integrated solutions, products and services to the
global energy industry. We enable low-carbon oil and gas production and develop
renewable solutions to meet future energy needs. By combining innovative digital
solutions and predictable project execution we accelerate the transition to
sustainable energy production. Aker Solutions employs approximately 15,000
people in more than 20 countries.
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This press release may include forward-looking information or statements and is
subject to our disclaimer, see https://akersolutions.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by Lars Kulsrud, Senior Manager,
Communications, Aker Solutions, on May 25, 2022 at 10:00 CEST.