Aker Solutions signs contract with McDermott subsidiary

20 december 2012 20 December 2012 - The international oil services provider Aker Solutions has signed a contract with a subsidiary of McDermott for the delivery of subsea tie- in connectors to the Ichthys LNG Project. The contract is valued at NOK 500 million. The scope of work includes the delivery of 6"-18" horizontal and vertical diverless tie-in connectors to be included in the McDermott umbilicals, risers and flowline scope for the Ichthys LNG Project. Engineering, procurement, construction and installation specialist, McDermott, is the lead contractor for the Ichthys LNG SURF field development project. "Aker Solutions has more than 20 years of experience in delivering reliable and cost effective tie-in connection systems and tools. The contract with McDermott confirms our commitment to the Australian market and is a testament to our global capabilities," said Alan Brunnen, head of Aker Solutions' subsea business area. The Ichthys LNG Project is a joint venture between INPEX (operator), TOTAL and other participants. Gas from the Ichthys field, in the Browse Basin approximately 200 kilometres offshore of Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The gas will then be exported to onshore processing facilities in Darwin via an 889km subsea pipeline. The Ichthys LNG Project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak. Earlier this year, Aker Solutions was awarded the contract for engineering, procurement, fabrication and supply of static and dynamic umbilicals, totalling 63 kilometres for the Ichthys LNG Project. The company has also been awarded a contract to supply a Mono Ethylene Glycol (MEG) reclamation plant for this project. The tie-in connector project will be executed by Aker Solutions' headquarters at Fornebu, Norway. Manufacturing will be handled by the strategic supply chain network and the expected delivery date is from 2013-2014. The connectors will be used to connect flowlines to subsea structures, manifolds and export riser bases. ENDS For further information, please contact: Media: Severin Roald, Vice President Communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: severin.roald@akersolutions.com Investor relations: Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 91 13 71 94, E-mail: lasse.torkildsen@akersolutions.com Suppliers: For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers Career opportunities: Visit http://www.akersolutions.com/careers Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field. Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 25 000 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their customers' solutions. Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange. This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Aker Solutions ASA via Thomson Reuters ONE [HUG#1666648]