Aker Solutions — Regulatory Filings 2022

May 25, 2022

Aker Solutions to Provide Subsea Production System for the Halten East Development

Aker Solutions to Provide Subsea Production System for the Halten East Development

May 25, 2022 - Aker Solutions has won a sizeable[1] contract from Equinor to

deliver the subsea production system for the Halten East development offshore

Norway. The development concept is a subsea tie-back to the Åsgard B platform,

using existing facilities and infrastructure. The discoveries consist of gas and

condensate.

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Aker Solutions will deliver a complete subsea production system including seven

standardized vertical subsea trees, five dual-slot satellite structures with

manifolds, a metering station, as well as control systems, wellheads and tie-in

equipment. Work will start immediately with final deliveries scheduled for the

third quarter of 2024.

"This contract once again demonstrates the value of our standardized product

offering and the benefits of the portfolio approach in our execution. We look

forward to supporting Equinor and its partners in creating value on this

important tie-back project," said Maria Peralta, executive vice president and

head of Aker Solutions' subsea business.

In addition, Aker Solutions has been awarded a separate letter of intent for the

delivery of about 90 kilometers of static subsea umbilicals for the Halten East

development. The company expects to book an order intake between NOK 300 million

and NOK 400 million related to the umbilicals contract.

About the Field

Halten East comprises six discoveries and three prospects with a combined volume

of around 100 million barrels of oil equivalent, consisting of gas and

condensate. Equinor is the operator of the development, and the other license

partners are Vår Energi, Spirit Energy and Petoro.

Both contracts will be booked as order intake in the second quarter of 2022 in

the Subsea segment.

The project development is subject to regulatory approval by Norwegian

authorities.

[1]Aker Solutions defines a sizeable contract as being between NOK 0.5 billion

and NOK 1.5 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 15,000

people in more than 20 countries.

Visit akersolutions.com and connect with us on

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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 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 May 25, 2022 at 10:00 CEST.