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Aker Solutions Regulatory Filings 2018

Oct 5, 2018

3531_iss_2018-10-05_dd4102e9-3ebc-4d1d-be46-30c3ec0e163a.html

Regulatory Filings

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Aker Solutions Wins Subsea Order for Libra's Mero Field Offshore Brazil

Aker Solutions Wins Subsea Order for Libra's Mero Field Offshore Brazil

October 5, 2018 - Aker Solutions has signed a contract with Petrobras to provide

a subsea production system and related services for the Mero 1 project within

the Mero field development, one of the largest oil discoveries in Brazil's pre-

salt area.

The subsea production system will consist of 12 vertical subsea trees designed

for Brazil's pre-salt, four subsea distribution units, three topside master

control stations for the Mero 1 Guanabara FPSO and spare parts. The order also

includes installation and commissioning support services.

"We're pleased to become a key supplier to Petrobras and its partners for the

first full production project of this major development," said Luis Araujo,

chief executive officer of Aker Solutions. "We have an extensive local workforce

and over 40 years' experience in Brazil and look forward to continuing to play

an important role in the development of the country's pre-salt resources," he

added.

Aker Solutions' subsea manufacturing facility in São José dos Pinhais and its

subsea services base in Rio das Ostras will carry out the work.

The work has already started and deliveries are scheduled for 2020.

Installations are scheduled between 2020 and 2023.

The subsea production system will be hooked up to the first full-scale floating

production, storage and offloading (FPSO) vessel for Mero, known as the

Guanabara FPSO. The FPSO is scheduled to come on stream in 2021 and will have

capacity to process up to 180,000 barrels of oil a day and 12 million cubic

meters of gas a day.

The ultra-deepwater Mero field is located in the northwestern area of the

original Libra block, which is about 180 kilometers south of Rio de Janeiro.

First oil was produced in November last year.

Petrobras is the operator of the consortium developing the Libra area. Shell,

Total, CNPC and CNOOC Limited are partners. Pre-Sal Petróleo S.A (PPSA) manages

the Production Sharing Contract.

The companies are not disclosing the value of the contract. The order will be

booked in the third quarter of 2018.

ENDS

Media Contact:

Tor Odland, tel: +47 22 94 60 80, mob: +47 990 90 872, e-mail:

[email protected]

Media Contact Brazil:

Daniele Rivera, tel: +55 21993480110, e-mail: [email protected]

Investor Contact:

Fredrik Berge, tel: +47 22 94 62 19, mob: +47 450 32 090, e-mail:

[email protected]

Aker Solutions is a global provider of products, systems and services to the oil

and gas industry. Its engineering, design and technology bring discoveries into

production and maximize recovery. The company employs approximately 14,000

people in about 20 countries. Go to http://akersolutions.com for more

information on our business, people and values.

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

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

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.