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Aker Solutions — Regulatory Filings 2021
Feb 16, 2021
3531_iss_2021-02-16_5fb54a70-6bc9-4116-8a80-f8997c1aa3f5.html
Regulatory Filings
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Aker Solutions to Deliver Electrification of Equinor's Troll B & C Platforms
Aker Solutions to Deliver Electrification of Equinor's Troll B & C Platforms
February 16, 2021 - Aker Solutions has secured a letter of intent from Equinor
for the topside work on the Troll B and C platforms offshore Norway to reduce
the CO2 emissions. These modifications will include installation of equipment
for receiving electrical power from shore via cable. This will replace power
generation from gas turbines at the platforms, and thus reduce climate
footprint. The award is estimated to be very large[1].
Aker Solutions' work will include engineering, procurement, construction and
prefabrication of systems, and installation at the platforms offshore. The
engineering and construction will be performed at Aker Solutions' offices in
Bergen, and at its yard in Egersund respectively. The award follows completion
of the front-end engineering and design (FEED) work that Aker Solutions was
awarded in January 2020 (https://www.akersolutions.com/news/news
-archive/2020/aker-solutions-awarded-feed-contract-for-electrification-of
-equinors-troll-b-and-c-platforms/).
The work will start immediately and is scheduled for completion at the end of
2025. The scope will include approximately 1,000 man-years for own employees, of
which about 500 for engineering, 200 for construction and 300 for the work
offshore. Including ripple effects, the scope is expected to involve a total of
4,000 people, including employees working with suppliers, services providers
etc.
"Reduction of climate footprint is high on the agenda for our customers in the
oil and gas industry. Electrification of production platforms is one of the ways
to reduce emissions from such operations. Aker Solutions has extensive
experience from delivering such low-carbon solutions, and we aim to be a leading
contractor in this market. We are excited to collaborate with Equinor on the
Troll electrification," said Kjetel Digre, chief executive officer of Aker
Solutions.
The Troll field lies about 65 kilometers west of Bergen on Norway's west coast.
The electrical power cable will be connected to shore at Kollsnes outside
Bergen.
The contract award is subject to a final investment decision and a regulatory
approval.
The award will be booked as order intake in the first quarter of 2021 in the
Electrification, Maintenance and Modifications (EMM) segment.
[1] Aker Solutions defines a very large contract as being between NOK 2.0
billion and NOK 3.0 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
Facebook (https://www.facebook.com/AkerSolutions/),
Instagram (https://instagram.com/akersolutions/),
LinkedIn (https://www.linkedin.com/company/aker-solutions),
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YouTube (https://www.youtube.com/akersolutions).
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.