Aker Solutions — Regulatory Filings 2020

Oct 1, 2020

Aker Solutions Wins FEED Contract for ConocoPhillips' Tommeliten Alpha Development

Aker Solutions Wins FEED Contract for ConocoPhillips' Tommeliten Alpha Development

October 1, 2020 - Aker Solutions was awarded a front-end engineering and design

(FEED) contract from ConocoPhillips for modifications on the Ekofisk

installations to integrate the Tommeliten Alpha discovery, offshore Norway.

The FEED starts immediately and is expected to be completed in the second

quarter of 2021 with an estimated value of about NOK 130 million.

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

and installation (EPCI) work following the completion of the FEED. The option is

subject to Norwegian authorities' approval of the plan for development and

operation (PDO) and a new award decision by the Tommeliten Alpha partnership.

The FEED work will be led by Aker Solutions' office in Stavanger, Norway.

"We are excited to work closely together with the field operator ConocoPhillips

on the Tommeliten Alpha development, said Linda Litlekalsøy Aase, executive vice

president, brownfield projects, at Aker Solutions. "We will utilize our

expertise in complex offshore modifications to find the most cost-efficient

solution for this project."

Tommeliten Alpha is a discovery in the southern part of the Norwegian sector in

the North Sea, approximately 25 kilometers southwest of the Ekofisk field. The

water depth is 75 meters. The discovery was proven in 1977. The reservoir

contains a gas condensate fluid and lies at a depth of about 3,000 meters.

The FEED contract was booked as order intake in the third quarter of 2020.

ENDS

Media Contact:

Cathrine Gjertsen, mob: +47 99 49 25 37, email:

cathrine.gjertsen@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 13,000

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.