Aker Solutions Awarded Subsea Contract for Breidablikk

OSLO, Norway, Sept. 28, 2020 /PRNewswire/ -- Aker Solutions has been awarded a contract from Equinor for the delivery of a subsea production system for the Breidablikk development in the North Sea. The contract value is estimated at about NOK 2.5 billion, including options.

The contract covers the delivery of four subsea templates and up to 23 subsea trees and associated components. The deliveries include Aker Solutions' standard, lightweight vertical subsea trees, and Vectus™, the company's next-generation subsea control system, which offers greater data and power capabilities.

"We are very pleased to see the Breidablikk project move forward, following the interim measures by the Norwegian authorities this summer," said Kjetel Digre, chief executive officer of Aker Solutions. "The award demonstrates our competitive position in the subsea market and will lead to more activity at many of our facilities in Norway and internationally, creating work for hundreds of employees across Aker Solutions. We look forward to continuing our long-standing collaboration with Equinor in this project."

The work will be carried out at Aker Solutions' locations in Fornebu, Tranby, Egersund, Sandnessjøen and Ågotnes, with additional deliveries from Brazil, Malaysia and the UK.

Aker Solutions booked NOK 2 billion related to the first 15 subsea trees in the second quarter of 2020 and will book NOK 0.5 billion for the additional eight subsea trees as order intake in the third quarter of 2020.

Breidablikk is a large oil discovery on the Norwegian Continental Shelf located north-east of the Grane field in the North Sea. Breidablikk will be developed as a subsea field with a tie-back to the Grane platform by Equinor and partners Petoro, Vår Energi and ConocoPhillips.

The project development is subject to final approval by the Norwegian authorities.

Media Contact:
Ivar Simensen
mob: +47 464 02 317
email: ivar.simensen@akersolutions.com

Investor Contact:
Fredrik Berge
mob: +47 450 32 090
email: fredrik.berge@akersolutions.com

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