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02/07/2013

£289m Subsea Contract For Aker Solutions

Aker Solutions has secured its largest UK subsea contract.

The contract, worth £289m ($440m) will see the company deliver the subsea production system for an oil field development in the UK North Sea.

Aker Solutions' subsea operations in Aberdeen will manufacture the control systems and wellheads. It will also provide lifecycle-support services.

The order includes subsea technologies that are new to the UK market, including manifolds and trees that can enable the use of hydraulically submersible pumps to improve oil recovery and flow assurance. Aker Solutions will also provide diverless horizontal tie-in systems and slim line rigid lockdown wellheads for the development.

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It is currently one of the largest projects under development in the UK North Sea area.

Alan Brunnen, Head of Aker Solutions' subsea business, said: "This is the single-largest subsea contract that we've won in the UK. It further consolidates our position in the UK, which is our biggest hub outside of Norway."

The first deliveries are scheduled for the first half of 2014.

Aker Solutions has withheld the name of the field and the operator.

The contract has been signed and booked as order intake in the second quarter of 2013.

(JP/CD)

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