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Aker Solutions ASA 13 June 2008 - Aker Solutions has been awarded a contract worth approximately USD 65 million for the delivery of a complete subsea production system to Eni's Oyo field development offshore Nigeria. The fast-track project, which will see first deliveries made as early as September 2008, is of strategic importance for Aker Solutions' developments in West Africa.
Scope of work for the contract is four subsea trees with wellheads and control systems, tie-in connection system, workover system and tools, dynamic and static steel tube umbilicals, and system engineering.
The contract is based on Aker Solutions' RapidSolution - a pre-configured well system that uses standardised, stocked core components, which offer significant reductions in lead times.
"Nigeria and West Africa has a large amount of deepwater subsea fields and will be a significant growth region going forward. It is important that we continue to develop our business in this important region," says Raymond Carlsen, executive vice president, Aker Solutions.
"We are pleased that Eni has seen the benefits of utilising our RapidSolution system. Not only are we reducing lead times significantly by using stocked hardware, but we are also minimising project risks and costs by utilising field proven pre-configured components. This allows us to offer a high degree of predictability with regards to execution, manufacturing and delivery. The end-beneficiary is the customer," adds Carlsen.
Subsea trees and controls will be manufactured out of Aker Solutions' subsea manufacturing centre in Malaysia. Umbilicals will be manufactured in Moss, Norway, and wellheads in Batam, Indonesia.
RapidSolution is a complete subsea well system based on Aker Solutions' standard configurable tree. The solution is built specifically for subsea developments with short lead time and tie-backs when developing resources close to existing offshore installations. The solution consists of a subsea tree, subsea control module and wellhead.
Contract party is Aker Solutions subsidiary Aker Kvaerner Malaysia Sdn Bhd.
Suppliers: For further information about sourcing and potential subcontracts for this project, please contact: Harald Grieg Riisnaes, vice president, Global Supply Chain, Aker Solutions. Tel: +47 67 82 68 18
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 24 000 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.
