Aker Solutions — Regulatory Filings 2020

Dec 16, 2020

Aker Solutions Wins Hook-Up and Commissioning Assistance Contract for Johan Sverdrup

Aker Solutions Wins Hook-Up and Commissioning Assistance Contract for Johan Sverdrup

December 16, 2020 - Aker Solutions has signed a contract to deliver hook-up and

commissioning assistance of the P2 processing platform at Equinor's Johan

Sverdrup field offshore Norway.

Onshore preparation work starts immediately. Offshore hook-up work will start in

2022 after the platform has been installed offshore and will commence until

production start in the fourth quarter of 2022. The contract has an estimated

value of about NOK 500 million.

The Johan Sverdrup field with a total of five offshore platforms is one of the

world's largest oil and gas developments in recent years. Aker Solutions has

been involved in all project development stages of Johan Sverdrup Phase 1,

including hook-up and commissioning assistance to prepare production start of

the first phase in 2019.

"The productivity in the hook-up and commissioning work we delivered to Equinor

in Phase 1 was high. We will build on this performance and implement even

further improvements for the new contract for Phase 2, in close cooperation with

Equinor's team. We are glad that our focus on enhancing performance enables us

to offer competitive execution models for new contracts," said Linda L. Aase,

executive vice president, electrification, maintenance and modifications at Aker

Solutions.

The new platform for Phase 2 will be the second processing platform at the Johan

Sverdrup field. The scope includes hook-up and commissioning of the systems at

the new topside, as well as assistance in making it ready for production start.

Work also includes connecting the platform to other systems at the previously

installed platforms at the field. The contract will be executed by Aker

Solutions' team for offshore work based in Stavanger, Norway, together with

specialists from other parts of the company.

The contract will be booked as order intake in the fourth quarter of 2020 in the

Electrification, Maintenance and Modifications segment.

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 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 15,000

people in more than 20 countries.

Visit akersolutions.com and connect with us on

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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.