By Dominic Chopping

Aker Solutions ASA said Friday it has signed a letter of intent with Equinor ASA for a 1 billion Norwegian kroner ($114 million) contract to deliver a subsea production system to the Kristin Sor oil-and-gas satellite fields in the North Sea.

The oil-and-gas industry service provider said it plans to start work on the contract during 2021, with delivery complete in the first half of 2023. The contract also provides options for additional work.

The new order will be booked in the fourth quarter of 2020.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

12-11-20 0217ET