Aker Solutions — Capital/Financing Update 2021

Jul 2, 2021

Aker Solutions Wins Topside Modification Contract for Hasselmus Development

Aker Solutions Wins Topside Modification Contract for Hasselmus Development

July 2, 2021 - Aker Solutions has won a sizable[1] contract from OKEA for

modifications on the Draugen platform to enable processing of gas from the

Hasselmus discovery.

The contract includes engineering, procurement, construction, installation and

commissioning (EPCIC) of new equipment. The scope covers hook-up of new riser, a

new inlet arrangement with electrical heater, new inlet scrubber, valve

arrangement, revamp of gas export compressors and modifications of the

condensate train.

"We look forward to working with OKEA in this project. Aker Solutions has a

strong and dedicated team with proven experience in delivering offshore

modifications, safely and with top quality. Our efficient and flexible execution

model will ensure minimum interruption of the ongoing production," said Linda

Litlekalsøy Aase, executive vice president and head of Aker Solutions'

electrification, modifications and maintenance business.

The 190 work-years contract will be executed from Norway with prefabrication

work in Egersund, engineering, procurement and project management in Trondheim

and Kristiansund and other services offshore.

The work starts immediately and is scheduled to be completed at the end of

The Hasselmus field is located 145 kilometers north of Kristiansund in the

Norwegian Sea. It is a single well subsea development solution with tie-back to

the Draugen platform.

The contract will be booked as order intake in the second quarter of 2021 in the

Electrification, Maintenance and Modifications business segment.

[1]Aker Solutions defines a sizable contract as between NOK 200 million and NOK

700 million.

ENDS

Media Contact:

Torbjørn Andersen, mob: +47 928 85 542, email:

torbjorn.andersen@akersolutions.com

Investor Contact:

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

Aker Solutions delivers integrated solutions, products and services to the

global energy industry. We enable low-carbon oil and gas production and develop

renewable solutions to meet future energy needs. By combining innovative digital

solutions and predictable project execution we accelerate the transition to

sustainable energy production. Aker Solutions employs approximately 14,000

people in more than 20 countries.

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