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2017-01-31

Aker Solutions ASA: Aker Solutions Wins Hook-Up Contract for Johan Sverdrup Oil Field

January 31, 2017 - Aker Solutions won a contract from Statoil for the hook-up
of the riser platform for the Johan Sverdrup field, Norway's largest offshore
development in the past three decades.

The company will work closely with subcontractor Kvaerner on joining together
the platform's seven modules, which will be transported to Norway in the
second quarter of 2018. The scope also covers planning, management and
prefabrication.

The contract value is approximately NOK 900 million and will be split about
equally between Aker Solutions and Kvaerner. Aker Solutions' share will be
booked in its first-quarter orders.

"We're very pleased to continue supporting Statoil in driving forward this
giant development, which will be of major importance to Norway for decades to
come," said Luis Araujo, chief executive officer of Aker Solutions.

The work starts in February and will initially involve about 100 people from
Aker Solutions, Kvaerner and Statoil, rising to as many as 1,000 people at
its peak next year. It will be carried out mainly in Stavanger and offshore.
Kvaerner will work closely with Aker Solutions and contribute to all parts of
the project delivery.

"We look forward to teaming up with Kvaerner to deliver on this next milestone
step and together work with Statoil to find the best possible solutions for
this major development," said Knut Sandvik, head of projects at Aker
Solutions.

The agreement also contains hook-up options for the field's processing and
living quarter platforms, which are scheduled to be installed in 2019.

ENDS

For further information, please contact:

Media:
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:
Per Christian Olsen, Analyst, Investor Relations, Aker Solutions. Tel: +47 67
51 36 58, Mob: +47 900 29 077, E-mail:per.christian.olsen@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 14,000
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

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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