Aker Solutions — Regulatory Filings 2024

Apr 8, 2024

Aker Solutions ASA: Aker Solutions signs Brasse contract

Aker Solutions ASA: Aker Solutions signs Brasse contract

April 8, 2024 - Aker Solutions has been awarded a sizeable [1] EPCIC-contract

for the Brasse tieback project for OKEA.

Brasse is an oil and gas field located 13 kilometers south of the Brage

platform. Brasse will be developed as a subsea tieback to Brage and will utilize

the existing processing capacity on the platform, where the first production

started in 1993.

The tieback demands modifications on the Brage platform. The FEED has been

carried out by Aker Solutions. Aker Solutions' scope is to execute engineering,

procurement, construction, installation and commissioning on Brage to prepare

the topside of the platform for receiving oil and gas from the Brasse field.

"We are continuing to develop a long-term partnership with OKEA as a preferred

supplier. Our experience of working as an integrator in projects alongside OKEA,

OneSubsea and Subsea7 has shown that together, we are able to find feasible

solutions to maximize the utilization of resources in mature areas in a

profitable manner. The tieback will contribute to energy security in Europe."

said Paal Eikeseth, executive vice president and head of Aker Solutions' Life

Cycle segment."

The plan for development and operation (PDO) will be submitted during April and

Brasse will be renamed Bestla upon approval of the PDO. The name Bestla

originates from Norse mythology and is the name of Odin's mother.

Aker Solutions' Project Management team and key resources will be mainly based

in Stavanger and pre-fabrication will be done at Aker Solutions' yard in

Egersund.

The contract will be booked as order intake in the second quarter of 2024 in the

Life Cycle segment.

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

and NOK 1.5 billion

ENDS

Media Contact:

Ruth Lycke, mob: +47 906 65 931, email: ruth.lycke@akersolutions.com

Investor Contact:

Preben Ørbeck, mob: +47 470 10 611, email: preben.orbeck@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 11,000

people in more than 15 countries.

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