Aker Solutions — Environmental & Social Information 2025

Jan 27, 2025

Aker Solutions ASA: Aker Solutions and SLB Capturi awarded contract for Hafslund Celsio's Carbon Capture and Storage Solution

Aker Solutions ASA: Aker Solutions and SLB Capturi awarded contract for Hafslund Celsio's Carbon Capture and Storage Solution

January 27, 2025 - Aker Solutions and SLB Capturi have been awarded a contract

for the carbon capture and storage solution at Hafslund Celsio's waste-to-energy

plant in Oslo, Norway. The contract will deliver a carbon capture plant, a

liquefaction system, temporary storage, and loading facility at the waste

incineration site. It also includes an intermediate CO2 storage and ship loading

system at Oslo harbour. The project is an important milestone in the development

of a full-scale CO2 value chain in Norway, as part of the Norwegian Government's

Longship project.

For Aker Solutions, this is a substantial[1] contract and the scope of work

includes the engineering, procurement, construction, installation, and

commissioning (EPCIC) of the onshore facilities. The project will mainly involve

our locations at Fornebu and Stord in Norway, and in Mumbai, India.

The waste-to-energy plant at Klemetsrud is the largest carbon emitter in Oslo

and is responsible for 19% of the capital's fossil carbon emissions. The project

will be delivered based on SLB Capturi's modularized Just CatchT 400 unit and

when operational, the carbon capture plant is expected to capture 350,000 metric

tonnes of CO2 per year. The space efficient Just Catch product design has been

fundamental to enabling a viable, cost-effective solution by reducing onsite

footprint, installation and outfitting work.

"Today marks a significant milestone for Aker Solutions and the CCUS industry in

Norway. We are proud to be part of this key project and look forward to

contributing to effective project execution, based on three decades of

experience in the CCS market. This project is a testament to important public

and private collaboration to build an industrial value chain for carbon capture

and storage. The project will also significantly contribute to reducing

emissions and will create value for both industry and society," said Kjetel

Digre, chief executive officer for Aker Solutions.

"Standardization and modularization play a key role in shifting the economics of

carbon capture projects," said Egil Fagerland, chief executive officer, SLB

Capturi. "We are extremely proud of our collaboration with Hafslund and Aker

Solutions to align our Just Catch plant design with the techno-economic

requirements of this project to help make it a reality. We look forward to

delivering this flagship project as a successful blueprint for industrial

decarbonization projects in Norway and across the globe."

"We are proud to have Aker Solutions and SLB Capturi with us to realize this

major industrial project. It provides security and strength to collaborate with

strong partners who have experience from carbon capture and storage from the

Longship project, and who bring extensive experience and expertise gained

through large industrial developments both in Norway and abroad. Together, we

will build a capture plant that will be operational by the fall of 2029," said

Martin S. Lundby, managing director at Hafslund Celsio.

The project will start in the first quarter of 2025 and is expected to be

completed by 2029. The contract has a balanced risk-reward profile with aligned

incentives for efficient and safe delivery. The contract will be booked as order

intake in the first quarter of 2025 in the Renewables and Field Development

segment.

[1]Aker Solutions defines a substantial contract as between NOK 2.5 billion and

NOK 4.0 billion

ENDS

Preben Ørbeck

investor relations

preben.orbeck@akersolutions.com

+47 470 10 611

Mari Djupvik Bråthen

media contact

Mari.Djupvik.Brathen@akersolutions.com

+47 957 05 437

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 11,700

people in more than 15 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 considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Svend Thürmer, Senior Advisor,

Communications, Aker Solutions, on January 27, 2025 at 08:00 CEST.