Aker Solutions Signs Visund Contract


Aker Solutions has been awarded a contract by Statoil to deliver five subsea trees and eleven control modules to the Visund field on the Norwegian continental shelf. Contract value is approximately NOK 300 million.

The agreement is a call-off from an existing frame agreement between Statoil and Aker Solutions signed in 2007. The agreement also includes an option of an additional four subsea tree systems.

Visund is an oil and gas field located 22 kilometres north-east of the Gullfaks field in the Tampen area of the Norwegian North Sea. The field came on stream in the spring of 1999.

"Aker Solutions has a proud heritage at Visund with more than 30 trees delivered overall. We look forward to supporting Statoil's goal of increasing the production rates at Visund," says Alan Brunnen, executive vice president of Aker Solutions' subsea business area.

The five subsea trees for the Visund field will be equipped with Aker Solutions' most advanced subsea technology. This technology enables oil and gas production from intelligent wells which provides higher oil and gas recovery and more reservoir data.

The Visund trees will be manufactured at Aker Solutions' facility in Tranby, Norway, while the control modules will be manufactured at their Aberdeen facility in the UK.

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.

A control system is a device that manages and regulates the behaviour of subsea equipment.

The contract has been signed and booked as order intake in Q3 2012.

For further information, please contact:

Media:

Endre Johansen, VP Corporate Communications, Aker Solutions. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akersolutions.com

Suppliers:

For further information about sourcing and potential subcontracts for this project, please visit http://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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