Aker Solutions — Regulatory Filings 2024

Sep 30, 2024

Aker Solutions ASA: Aker Solutions secures Troll Phase 3 stage II topside modification contract

Aker Solutions ASA: Aker Solutions secures Troll Phase 3 stage II topside modification contract

September 30, 2024 - Aker Solutions has been awarded a sizeable[1] EPCIC

contract by Equinor to prepare the topside of Troll A for accelerating

production from the Troll West gas reservoir.

The Troll field is situated in the North Sea, 80 km northwest of Bergen, and is

Norway's largest gas producer, supplying 10 percent of Europe's total gas needs.

Troll Phase 3 involves producing the gas cap overlying the oil column in Troll

West, while also continuing the production of oil. The produced gas goes to

Troll A and onwards in existing infrastructure.

The scope includes engineering, procurement, construction, installation and

commissioning (EPCIC) for topside modification. The purpose is to prepare the

Troll A platform for receiving and processing gas from eight new wells at Troll

West.

The first stage of this development was completed in 2021 with a new module on

the Troll A platform to receive and process gas from the Troll West field. Aker

Solutions completed the Troll A topside modification and provided the subsea

systems for the field development in Stage I.

"We are excited to continue following the significant development of the giant

Troll field and to move forward with the next step of Troll Phase 3. In-depth

knowledge of Troll A, the equipment on the asset, and the modifications made in

the first phase is essential, providing a strong foundation for executing this

new scope," said Paal Eikeseth, executive vice-president and head of Aker

Solutions' Life Cycle segment.

Aker Solutions has also been entrusted with preparing and installing equipment

for the clean-up of the initial well fluids during the start-up of the wells.

"We will have the lead responsibility for the interfaces between contractors in

this project and will leverage our experience as integrators in complex energy

projects, focusing on delivering high-value and optimized solutions. We are

honored to be a trusted contractor and look forward to continuing the close

collaboration with Equinor on Troll," said Paal Eikeseth.

Several Aker Solutions offices will be engaged in the engineering phase. Project

management, detail engineering, procurement and shop engineering is executed by

Aker Solutions` Stavanger office with support from Bergen and Mumbai.

Construction and prefabrication will be executed at the company's yard in

Egersund. In addition, OneSubsea, of which Aker Solutions owns 20 percent, has

previously been contracted for the subsea production system for this project.

The contract will start right away and is scheduled for completion at the end of

The contract will be booked in the Life Cycle segment as order intake for the

third quarter of 2024.

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

1.5 billion.

ENDS

Preben Ørbeck

investor relations

preben.orbeck@akersolutions.com

+47 470 10 611

Ruth Lycke

media contact

Ruth.Lycke@akersolutions.com

+47 906 65 931

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 11,000

people in more than 15 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.