Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Aker Solutions ASA 30 July 2008 - Aker Solutions has been awarded a frame contract by BP for the delivery of subsea umbilicals to the oil company's PSVM ultra-deepwater field development offshore Angola. Intial contract value is approximately NOK 360 million.
The contract is for manufacturing and delivery of 48 kilometres of steel tube umbilicals. The dynamic section of the umbilicals will be made using Aker Solutions' patented carbon fibre rod technology, which is developed specifically for deepwater and ultra-deepwater conditions.
"This is the second time we are delivering our umbilicals to BP's projects in Angola, and we are pleased to build on our solid relationship with them. We are the biggest player in the global steel tube umbilical market and large contracts like these are proof that our technology is a good fit for ultra-deepwater developments," says Raymond Carlsen, executive vice president, Aker Solutions.
The umbilicals will be manufactured and delivered out of Aker Solutions' facility in Moss, Norway. Delivery of the umbilicals is scheduled for Q3 and Q4 2010.
Contract party is Aker Solutions' subsidiary Aker Subsea AS.
Sociedade Nacional de Combustíveis de Angola (Sonangol) is the concessionaire of block 31. BP operates the block.
ENDS
For further information, please contact: Media: Endre Johansen, communications manager, Aker Solutions. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akersolutions.com
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 58 billion and employs approximately 24 000 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.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
