Aker Solutions — Regulatory Filings 2020

Jun 24, 2020

Aker Solutions Awarded Letter of Intent for Breidablikk

Aker Solutions Awarded Letter of Intent for Breidablikk

June 24, 2020 - Aker Solutions has been awarded a letter of intent from Equinor

for the delivery of a subsea system for the Breidablikk project in the North

Sea.

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The scope of work covers a complete subsea production system, and associated

equipment that includes 15 subsea trees in the first phase.

"We are delighted to be awarded a letter of intent by Equinor, which will lead

to more activity at many of our facilities in Norway and beyond," said Luis

Araujo, chief executive officer of Aker Solutions.

The work will be carried out at Aker Solutions' locations in Fornebu, Tranby and

Egersund, with additional deliveries from the UK and Brazil.

The potential contract value is approximately NOK 2 billion, excluding options.

Breidablikk is a large oil discovery on the Norwegian Continental Shelf located

north-east of the Grane field in the North Sea. Breidablikk will be developed as

a subsea field with a tie-back to the Grane platform. Equinor and partners plan

for an investment decision later this year.

The letter of intent is subject to Equinor and partners' final investment

decision later this year and a final approval of the project by Norwegian

authorities.

ENDS

Media Contact:

Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@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.

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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.