Aker Solutions ASA (OSL:AKVER) Aker Solutions Signs Subsea Engineering Contract With BP

Aker Solutions ASA (OSL:AKVER) 14 January 2009 - Aker Solutions has signed a contract renewal with BP for the provision of life-of-field subsea engineering services for its West of Shetland assets. The contract is for a three-year period with options for two one-year extensions (3+1+1). Total contract value could reach GBP 25 million over the five-year period and provides access to work on other BP UKCS assets.

Under the contract, Aker Solutions will provide project management for subsea field developments, life-of-field engineering support and other subsea engineering services. The work will be managed out of Aker Solutions' facilities in Aberdeen, where a 120-strong subsea engineering and field development team is based.

The new agreement sparks the latest phase of Aker Solutions' subsea engineering service provision to BP. The cooperation originated with the development and operations support of the deepwater West of Shetland oilfields, Schiehallion and Foinaven, in 1995 and 1998 respectively.

"As a dedicated subsea engineering hub we have the know-how, experience and manpower to support BP through all phases of their subsea developments, from the FEED stage through to installation and well intervention operations," says Ian MacGruer, vice president of subsea field development, Aker Solutions.

"Not only can we provide life-of-field subsea engineering and management services to our customers, Aker Solutions also has the ability to deliver established and leading edge products, technologies and services to support all phases of the subsea developments. That puts us in a unique position to offer EPCIC (engineering, procurement, construction, installation and commissioning) work under one roof," added MacGruer.

Contract party is Aker Solutions subsidiary Aker Subsea Ltd.

ENDS

For further information, please contact: Media: Endre Johansen, communications manager, Aker Solutions. Tel: +47 22 94 58 91, Mob: +47 416 10 605, E-mail: endre.johansen@akersolutions.com

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 solely responsible for the content of this announcement.

Aker Solutions ASA

http://www.akersolutions.com/

ISIN: NO0010215684

Stock Identifier: XOSL.AKSO