A/S Norske Shell Extends Maintenance and Modification Contract with Aker Solutions
15 December 2010: A/S Norske Shell has decided to extend the maintenance and modification contract with Aker Solutions, exercising a 2 year option in the existing agreement for the Draugen and Ormen Lange fields. Work under the new option will last until December 2012. The contract value is estimated to be in the range of NOK 1- 1.5 billion.
The original maintenance and modification contract was signed in December 2005 with duration of five years.
"Using the option to extend the contract underlines the strong integration between A/S Norske Shell and Aker Solutions, and it enforces our determination to utilize the competence Aker has built up, from the offices in Kristiansund and Stavanger. It also holds a substantial potential to unlock closer cooperation with local engineering and fabrication businesses", says Project Manager in Norske Shell, Bernt Granås.
"We are very pleased that a key international player as Shell renews its trust in our services. This extension ensures the basis for continued growth in Mid-Norway, and at our engineering offices in Kristiansund", says president for Maintenance, Modifications and Operations in Aker Solutions, Stian Vemmestad.
Scope of work under the contract includes studies, engineering , fabrication, installation as well as commissioning and employs 600 people. In addition to ongoing maintenance and modification work, Aker Solutions is currently involved in projects related to test facility for subsea compression for Ormen Lange and produced water injection at Draugen.
Contract parties are Aker Solutions subsidiary Aker Offshore Partner AS and A/S Norske Shell.
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 54 billion and employs approximately 22 000 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.
For further information, please contact:
Media:
Mariken Holter,
VP Communications,
Aker Solutions,
Mob: +47 917 87 358
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 visit http://www.akersolutions.com/suppliers
