Aker Solutions — Capital/Financing Update 2020

Jan 15, 2020

Aker Solutions Awarded FEED Contract for Electrification of Equinor's Troll B and C Platforms

Aker Solutions Awarded FEED Contract for Electrification of Equinor's Troll B and C Platforms

January 15, 2020 - Aker Solutions has secured a front-end engineering (FEED)

study from Equinor to enable power from shore for the Troll B and C platforms,

to reduce CO2 emissions from the field.

The contract includes an option for the engineering, procurement, construction

and installation (EPCI) work following the completion of the study.

The study will outline how installation of electrical equipment on Troll B and

C, as well as replacement from gas turbine to electrical driven compressors on

Troll C can be performed. This will enable Equinor's goal of supplying Troll B

and C with electricity by power cables from Kollsnes outside Bergen on the west

coast of Norway. The transition to onshore power could reduce CO2 emissions from

Troll B and C by about 450,000 metric tons per year.

"We are delighted to have secured a major electrification project for an

existing offshore production facility on the Norwegian Continental Shelf," said

Luis Araujo, chief executive officer of Aker Solutions. "Our ambition is to

generate 25 percent of our revenue from low carbon solutions such as

electrification by 2030. The electrification of Troll B and C is a great example

of how we are executing on our strategy and helping operators to reduce

emissions significantly."

The FEED study for Troll B and C is expected to be delivered in the second half

of 2020.

The Troll field lies about 65 kilometers outside Bergen on Norway's west coast.

The field has been operating since 1995 and represents about 40 percent of total

gas reserves on the Norwegian Continental Shelf.

ENDS

Media Contact:

Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@akersolutions.com

Investor Contact:

Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com

Aker Solutions helps the world meet its energy needs. We engineer the products,

systems and services required to unlock energy. Our goal is to maximize recovery

and efficiency of oil and gas assets, while using our expertise to develop the

sustainable solutions of the future. Aker Solutions employs approximately 16,000

people in more than 20 countries.

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

subject to our disclaimer, see https://akersolutions.com

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.