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2016-02-01

Aker Solutions ASA: Aker Solutions Awarded Two MMO Contracts From ConocoPhillips in Norway

February 1, 2016 - Aker Solutions' maintenance, modifications and operations
(MMO) business in Norway secured two contracts for work at North Sea fields
operated by ConocoPhillips.

The company received a framework agreement for a fixed period of five years to
become ConocoPhillips' main supplier of maintenance and modifications work
offshore Norway. The agreement may be extended by up to three years and
covers work on all installations at the Ekofisk and Eldfisk fields offshore
Norway, starting in February.

The contract value depends on how much maintenance and modifications work is
undertaken over the next five years and could range between NOK 1 billion and
NOK 3 billion in that period. The range neither represents a minimum nor a
maximum amount but serves to illustrate a realistic, yet uncertain range.

Aker Solutions was also one of three companies awarded a contract to compete
for work on large, complex modifications projects at these fields. This
contract has the same fixed period and option as the framework agreement.

"We're very pleased to secure these two major agreements with ConocoPhillips,
which build on the strengths of our operations in Norway and our expertise in
complex modifications," said Luis Araujo, chief executive officer of Aker
Solutions.

Work on both contracts will be managed and executed by Aker Solutions' MMO
unit in Stavanger and fabrication yard in Egersund. The agreements will also
provide work for offshore employees.

"The Ekofisk and Eldfisk installations comprise one of the largest maintenance
and modifications portfolios offshore Norway and these contracts will help
secure jobs in key parts of our Norwegian MMO business," said Per Harald
Kongelf, head of Aker Solutions' Norwegian operations.

ENDS

For further information, please contact:

Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: +47 67 59
42 71, Mob: +47 480 27 575, E-mail:bunny.nooryani@akersolutions.com

Anne Cecilie Lund-Andersen, Media Relations Manager, Aker Solutions. Tel: +47
22 94 74 52, Mob: +47 99 62 12 13,
E-mail:anne.cecilie.lund-andersen@akersolutions.com

Investors:
David Phillips, Head of Industry&Investor Relations, Aker Solutions. Tel: +44
208 811 7111, Mob: +44 7788 338 887, E-mail:david.phillips@akersolutions.com

Lasse Torkildsen, Senior Advisor, Aker Solutions. Tel: +47 67 51 30 39, Mob:
+47 911 37 194, E-mail:lasse.torkildsen@akersolutions.com

Aker Solutions
is a global provider of products, systems and services to the oil and gas
industry. Its engineering, design and technology bring discoveries into
production and maximize recovery. The company employs approximately 15,000
people in about 20 countries. Go tohttp://akersolutions.comfor more
information on our business, people and values.

This press release may include forward-looking information or statements and
is subject to our disclaimer, seehttp://akersolutions.com.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aker Solutions ASA via Globenewswire

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