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2016-01-15

Aker Solutions ASA: Aker Solutions Repositions MMO Business in Norway

January 15, 2016 - Aker Solutions today notified employees in its maintenance,
modifications and operations (MMO) unit across Norway of necessary steps to
reposition the business and enhance competitiveness in a market with
unprecedented challenges.

The company is streamlining the Norwegian MMO business to one regional unit
from previously four, affecting management and staff from Tromsø to
Stavanger.

Depending on future work levels, as many as 900 permanent positions may be
impacted at facilities in Stavanger, Bergen, Kristiansund, Trondheim, Tromsø
and Sandnessjøen as well as offshore. The workforce reductions will be made
through regular employee turnover, reassignments to other parts of the
company and redundancies.

A process to implement about half of the reductions will start immediately.
Remaining adjustments will depend on work levels throughout the year. The
company has previously reduced capacity in its Norwegian MMO business by
about 1,300 permanent and temporary positions since July 2014 to adjust to a
market slowdown.

"These measures are painful but necessary to strengthen the competitiveness
and longer term potential of our Norwegian MMO business, which has suffered
from a sharp drop in activity in Norway's offshore services market," said
Luis Araujo, chief executive officer of Aker Solutions.

The more streamlined business will support leaner processes and bolster
overall operations. It will build on the company's core strengths in the MMO
area, particularly within more complex modifications projects.

"We see significant opportunities ahead in the Norwegian modifications
segment, where our experience and know-how are second to none," said Per
Harald Kongelf, head of Aker Solutions' Norwegian operations.

There has been a substantial downturn in investments in the Norwegian oil and
gas market since 2014. Aker Solutions expects the MMO market in Norway to
continue to be challenging in 2016. Work volumes will also be impacted as the
company's long-term maintenance and modifications framework agreement with
Statoil expires in the first half of this year.

As a result, the company's prefabrication workshop in Sandnessjøen will be
temporarily shut down for about three years. MMO operations in Tromsø will
also be terminated, though some employees in this strategically important
northern location will likely be kept on as part of the company's Arctic Hub.
These employees will join Aker Solutions' Engineering and Front End Spectrum
teams.

"Market conditions are challenging, but I am confident that the steps we are
taking now to streamline operations, reduce costs and focus on our key
strengths will enhance our position in MMO, also internationally, where we
have been winning business and expanding in countries including Canada, the
UK and Brunei," said Araujo.

Aker Solutions has about 16,000 permanent employees in some 20 countries.
About 5,000 employees are in the MMO area, of which approximately 3,600 are
in Norway.

Note to press: Per Harald Kongelf, Aker Solutions' head of Norwegian
operations, will be available to the media at 12:00 CET today at the
company's headquarters in Fornebu (Snarøyveien 36). Please notify Anne
Cecilie Lund-Andersen by email (anne.cecilie.lund-andersen@akersolutions.com)
if you wish to participate.

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 16,000
people in about 20 countries. Go towww.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, seewww.akersolutions.com

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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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