Aker Solutions — Regulatory Filings 2021

Jun 9, 2021

Aker Solutions Secures Subsea Services Framework Agreement With Petrobras

Aker Solutions Secures Subsea Services Framework Agreement With Petrobras

June 9, 2021 - Aker Solutions was awarded a large[1] framework agreement from

Petrobras to provide subsea lifecycle services for Petrobras-operated oil and

gas fields offshore Brazil. The agreement has a fixed period of three years and

includes an option to extend the contract for two additional years.

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The scope of the agreement covers the full range of subsea lifecycle services

for several Petrobras-operated fields offshore Brazil. This will include

inspection, maintenance, repairs, upgrades and spares supply as well as

installation and commissioning services. The framework agreement is effective

from June 2021 and will be managed from Aker Solutions' service base in Rio das

Ostras in Rio de Janeiro.

The agreement has a strong focus on safe operation and continuous improvements.

Aker Solutions will continue its commitment to drive local partnerships, with a

local content rate of minimum 90 percent. The company has a focus on

industrializing the service work in order to increase efficiency, optimize

execution and enable reduced operating expenses.

"Brazil is a key global offshore market and we look forward to continuing our

strong partnership with Petrobras," said Maria Peralta, executive vice president

and head of Aker Solutions' subsea business. "Aker Solutions has been present in

Brazil for more than four decades and we are committed to continue to deliver

our services to help Petrobras maximize the potential for their fields in the

most safe, efficient and sustainable manner possible."

Aker Solutions' subsea lifecycle services ensure that customers maintain safe

operations and provide increased reliability, improved production and lower

costs. It ensures operators to maintain full control of the integrity and

condition of their assets, to enable efficient and informed decisions to meet

production targets. Among other services, our maintenance contract also includes

sustainable initiatives related to refurbishment of existing Petrobras assets.

Petrobras has a substantial portfolio of operated oil and gas fields in Brazil,

including deepwater and pre-salt fields. Aker Solutions has during the last 25

years installed close to 240 subsea trees for Petrobras-operated fields offshore

Brazil.

The award will be booked as order intake in the second quarter of 2021 in the

Subsea segment. The value represents an estimate of the work expected for the

fixed period of the contract and will depend on the customer's future demands.

[1] Aker Solutions defines a large contract as being between NOK 1.2 billion and

NOK 2.0 billion.

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 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 14,000

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 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 Lars Kulsrud, Senior Manager,

Communications, Aker Solutions, on June 9, 2021 at 07:30 CEST.