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Aker Solutions Signs Alvheim Contract

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Aker Solutions
333 E.Wetmore Rd
Tucson, AZ, 85705
USA



Press release date: December 27, 2012

Aker Solutions has signed a contract with Marathon Oil Norge for the delivery of subsea trees to the Alvheim field on the Norwegian continental shelf. Contract value is undisclosed.

The contract includes the delivery of four subsea trees and associated equipment. The contract is part of the frame agreement, covering the North Sea and Europe, between Marathon Oil Norge, a wholly owned subsidiary of Marathon Oil Corporation, and Aker Solutions.

"Our dedicated subsea teams in Norway and the UK look forward to execute another project on behalf of Marathon. We are very pleased to continue this positive client relationship," says Knut Røsjorde, head of Aker Solutions' subsea operations in Norway and Africa.

The Alvheim field is located in the Norwegian sector of the North Sea, 224 kilometres from Stavanger on the Norwegian west coast, at a water depth of 122 metres. The Alvheim subsea trees will be manufactured at Aker Solutions' facility at Tranby, Norway. Control modules will be manufactured in Aberdeen, UK. The project is scheduled for completion in the first half of 2014.

A subsea tree is a key technology enabling oil and gas production directly from a subsea well to a processing facility. The tree is essentially an advanced set of valves and is used together with associated technologies to control the well flow. The subsea tree is an integral part of a subsea production system.

For further information, please contact:

Media:
Endre Johansen, Vice President Communications, Aker Solutions. Tel: +47 22 94 58 91 , Mob: +47 41 61 06 05, E-mail: endre.johansen@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 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 25 000 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their customers' solutions.

Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities.In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange.
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