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Aker Solutions — Regulatory Filings 2021
Mar 4, 2021
3531_iss_2021-03-04_138555d4-b460-42fc-b8df-40fd62b6688f.html
Regulatory Filings
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Aker Solutions Awarded Åsgard B Modification Contract
Aker Solutions Awarded Åsgard B Modification Contract
March 4, 2021 - Aker Solutions has won a substantial[1] contract from Equinor
for modifications on the Åsgard B gas and condensate platform to enable
increased production. The scope includes engineering, procurement, construction
and installation (EPCI) of new equipment. The work starts immediately and is
scheduled to be completed in 2024.
The floating production platform offshore Norway is connected to subsea
installations at several nearby gas and condensate fields. The modifications
will enable increased production from the Smørbukk reservoir.
The award follows completion of the front-end engineering and design (FEED)
work, and the scope will include installation of systems to accommodate
production with both high and low pressure, replacement of reinjection
compressors as well as other modifications.
"We are excited to perform this modification project for Equinor, focusing on
responsible management of resources by utilizing existing installations to
enable increased production. We have a strong track-record from successful
deliveries of several similar projects previously," said Linda Litlekalsøy Aase,
executive vice president, electrification, maintenance and modifications at Aker
Solutions. "In projects like this, it is important to perform the offshore
installation work safely and with a minimum of interruption of the ongoing
production on other parts of the platform. Hence, we have developed special
expertise and models to execute such contracts."
The work is expected to require around 415 man-years for Aker
Solutions. Including ripple effects to personnel working with suppliers and in
other sectors, it is estimated that the project will involve more than 1,600
jobs. The prefabrication for new systems to be installed at Åsgard B will
involve 45 man-years at Aker Solutions' yard in Egersund. For Aker Solutions'
office in Trondheim, the engineering, procurement and project management will
engage around 240 man-years, primarily for local employees. Aker Solutions' work
offshore to install the new systems will involve around 130 man-years.
Åsgard B is a semisubmersible gas and condensate processing platform which is
part of the Åsgard field, one of the largest developments on the Norwegian
continental shelf. It is located in the Haltenbanken area in the Norwegian Sea,
around 200 kilometres off mid-Norway. The Åsgard field consists of the Midgard,
Smørbukk and Smørbukk South deposits. In addition, the Mikkel, Trestakk and
Morvin fields are tied back to the Åsgard infrastructure.
The contract will be booked as order intake in the first quarter of 2021 in the
Electrification, Maintenance and Modifications segment.
[1]Aker Solutions defines a substantial contract as being between NOK 700
million and NOK 1.2 billion.
ENDS
Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email:
Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: [email protected]
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 subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.