Akastor — Earnings Release 2010

Aug 12, 2010

Second quarter results 2010: improved order backlog

12 August 2010 - Aker Solutions second quarter results show consolidated

revenues at NOK 11.9 billion and an EBITDA of NOK 951 million. The EBITDA margin

was 8.0 percent.

Despite some uncertainty in the market, order intake for the second quarter was

NOK 15 billion, bringing total order backlog to NOK 60.3 billion.

"This is a strong order intake and backlog that will offer us increased

predictability going forward. The Energy Development & Services (ED&S) business

area in particular has had a solid order intake, which secures a good base

workload for its maintenance, modifications and operations (MMO) business in the

coming years," says Øyvind Eriksen, executive chairman, Aker Solutions.

Aker Solutions is well into a strategy process to further focus and optimise the

company's structure and operating model. The ambition is to build an even

stronger international delivery model for the field development business, while

the maintenance, modifications and operations (MMO) business will continue to

focus on the North Sea region. Development of new high-value service concepts

will play an increasingly important role for MMO going forward. A likely outcome

of this direction will be that the current ED&S business area will be split into

two business areas.

"There is a clear potential to develop a delivery model which combines our North

Sea field development and project execution experience with low-cost engineering

and fabrication. To achieve this we will actively source local partnerships in

promising oil and gas regions, which in turn will generate local value creation

and provide us with access to these markets. Our local partnerships in China and

Kazakhstan - the latter being announced today - are two good examples of this

strategy," says Eriksen.

As part of the current strategy process, Aker Solutions is continuing to work on

cultivating and growing its Process & Construction (P&C) business. The business

area will in the future be independent and will be operating under a separate

brand.

"We are moving ahead as planned with the process of separating P&C from our

upstream oil and gas business," says Eriksen.

The complete 2nd quarter results 2010 report and presentation are available

below and at www.akersolutions.com and www.newsweb.no.

ENDS

For further information, please contact:

Media:

Geir Arne Drangeid, EVP Communications, Aker Solutions. Tel: +47 67 51 30 36,

Mob: +47 91310458

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 contact the relevantBA Global Sourcing Champion.

Career opportunities:

Visithttp://www.akersolutions.com/careers

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.

This press release may include forward-looking information or statements and is

subject to our disclaimer, see www.akersolutions.com.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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