Aker Solutions awarded FEED contract for Kashagan Full-Field project development

Thursday, 15. January 2009 15:41
15 January 2009 - Aker Solutions announced today that, in a joint
venture with CB&I and WorleyParsons, it has received a front-end
engineering and design (FEED) services contract for Phase II of the
full-field development of the Kashagan oil field in Kazakhstan. The
contract value is GB£90M (USD 135 million).

"We are very pleased that we have been awarded this important
contract for the development of the Kashagan field. It confirms that
we are very well positioned for an active role in this field
development. The Kashagan field is at the core of our strategy for
our international field development business. This contract
demonstrates our competitive strengths within offshore technology in
environmentally sensitive areas, harsh climate conditions as well as
international contracting with a high level of local content. We look
forward to working with our partners on this very important field
development," says Simen Lieungh, President & CEO of Aker Solutions.

The scope of work for Phase II includes the front end engineering and
design of both onshore and offshore facilities and pipelines. The
FEED contract also includes options for early works, detail
engineering, procurement services, technical assistance, and
design/system integrity. Additionally, the contract provides for
optional FEEDs for other Kazakhstan oil fields (Aktote, Kairan, and
Kalamkas).

Work on the project, initiated after tender under a letter of intent
issued by Agip KCO, began on 3 November 2008 and is expected to be
completed in the first quarter of 2010. Additional options might
extend the work up to an 8-year period.

Shareholders in the Joint Venture company (K-WAC Limited) are:
WorleyParsons Europe Ltd (45%),CB&I UK Ltd (25%), Aker Engineering &
Technology AS (30%).

Aker Solutions and WorleyParsons are engaged in the execution of
Phase 1 of the Kashagan Project (the Experimental programme)
performing detailed design, fabrication and hook-up.


ENDS

For further information, please contact:
Media:
Jannik Lindbæk, SVP Corporate Communications, Aker Solutions. Tel:
+47 67 51 30 36, Mob: +47 977 55 622

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67
51 30 39, Mob: +47 911 37 194

Suppliers:
For further information about sourcing and potential subcontracts for
this project, please contact BA Global Sourcing Champion, telephone
number found
here: http://www.akersolutions.com/Internet/SuppliersCentre/Contacts/SupplyManagementContacts.htm


Career opportunities:
Visit http://www.akersolutions.com/Internet/CareerCentre

Aker Solutions ASA, through its subsidiaries and affiliates
("Aker Solutions"), is a leading global provider of engineering and
construction services, technology products and integrated
solutions. Aker Solutions' business serves several industries,
including oil & gas, refining & chemicals, mining & metals
and power generation. The Aker Solutions group is organised in a
number of separate legal entities. Aker Solutions is used as the
common brand/trademark for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA.
Aker Solutions has aggregated annual revenues of approximately NOK
58 billion and employs approximately 26 000 people in about 30
countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier
companies with a focus on energy, maritime and marine resource
industries. The Aker companies share a common set of values
and a long tradition of industrial innovation. As an industrial owner
controlling 40.27 percent of the shares in Aker Solutions through
Aker Holding AS, Aker ASA takes an active role in the development
of Aker Solutions.

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


This announcement was originally distributed by Hugin. The issuer is
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Related Links: Aker Solutions ASA
Author:
Hugin
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