Aker Solutions ASA announced that it has been awarded a substantial contract from Altera Infrastructure for the complete upgrade of the Petrojarl Knarr floating production storage and offloading vessel. The company said that the work will be performed in a joint venture with Drydocks World-Dubai and the upgrade will take place at the company's yard in Dubai, United Arab Emirates. The engineering, procurement and construction is planned to start during the first half of 2023 and is expected to be completed at the end of 2025.

Although the group didn't disclose financial details about the contract, Aker defines a substantial contract being worth between NOK 2.5 billion and NOK 4.0 billion ($249.8 million and $399.7 million).