February 16, 2026 - Aker Solutions has been awarded a major[1] five-year
contract with Aker BP for Maintenance, Modification and Operation services
(MMO). The contract covers all Aker BP's key assets on the Norwegian Continental
Shelf, including the new Yggdrasil area.
The five-year framework?agreement?includes options?to extend the contract for up
to two?additional?four-year periods starting from March 1, 2026.
The work will be executed within?the?next-generation MMO alliance covering
Valhall, Fenris, Ula, EIGA (Edvard Grieg and Ivar Aasen), Skarv, Alvheim, and
the Yggdrasil area.
The alliance is designed to?raise the bar?in?project execution and delivery.?The
goal is to embrace?new technology?and advanced execution methods to boost
productivity, reduce costs, and shorten project lead times by fundamentally
changing how we work.
This will be achieved through greater organizational?integration,?adoption of
new?digital and AI-driven ways of working, and a commercial model that rewards
performance and transformation.
"This contract marks a new chapter for Aker Solutions. We are proud to serve as
the MMO provider for the Yggdrasil Area, including three topsides, Hugin A,
Hugin B, and Munin. It's an area that will set a new benchmark for remote
operations and low-manned and unmanned production platforms," said Kjetel Digre,
Chief Executive Officer at Aker Solutions.
This contract provides a significant share of local?deliveries, creating
activity and ripple effects across Norwegian industry. Engineering and project
management will be carried out in Stavanger,?Sandnessjøen?and Mumbai.
Fabrication will take place at Aker Solutions' yards
in?Egersund?and?Sandnessjøen.?The agreement will also provide work for offshore
employees.
"Our alliance is built on trust and long-term commitment. Together, we are at a
pivotal moment of transformation?-?embracing?new technology?and advanced
execution methods to boost productivity, reduce costs, and shorten project lead
times by fundamentally changing how we work."?said?Digre.
The award will be booked as?order intake?in the?first?quarter of 2026, in the
Life Cycle segment,?representing?an estimate of the work to be called off during
the five-year fixed period.
[1]?Aker Solutions defines a?major?contract?as being between?NOK?8.0?billion and
NOK?12.0?billion
ENDS
Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611
Ruth Lycke
media contact
Ruth.Lycke@akersolutions.com
+47 906 65 931
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 11,800
people in 12 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 subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
This stock exchange release was published by Svend Thürmer, Senior
Communications Advisor, Aker Solutions, on February 16, 2026 at 07:50 CET.