September 15, 2021 - Aker Solutions has been awarded a front-end engineering and
design (FEED) contract from Aker BP for the NOA Fulla field development on the
Norwegian Continental Shelf. The subsea FEED contract makes the company well
positioned for further contracts if the field development moves into the
execution phase in 2022. It could potentially represent work in the range of a
very large contract for Aker Solutions, subject to final investment decision.
The scope of the subsea production systems (SPS) FEED is planned to include 14
standardized vertical subsea trees, VectusT 6.0 based Control system modules,
four six-slot manifolds, wellheads and a large number of tie-in and connection
systems. It will also include close to 60 kilometers of umbilicals. The SPS
project will be executed through the Subsea Alliance between Aker BP, Aker
Solutions and Subsea 7, building on shared goals and incentives as well as a
strategy to leverage technology and digital solutions in new ways to reduce
The award follows the successful completion of the front-end concept and study
phase, and work starts immediately with planned completion at the end of the
third quarter of 2022. The FEED work will be led by Aker Solutions' office in
"This award continues our long-standing collaboration with Aker BP. Through the
Subsea Alliance, we are early involved in the field development, optimizing
design solutions and contributing to a positive final investment decision for
the operators. We look forward to continuing our alliance with Aker BP and
Subsea 7, with a continued strong focus on safe and efficient operations while
helping to reduce the carbon footprint," said Maria Peralta, executive vice
president and head of Aker Solutions' subsea business.
About the Field
The NOAKA area is located between Oseberg and Alvheim in the Norwegian North
Sea. The area holds several oil and gas discoveries with gross recoverable
resources estimated at more than 500 million barrels of oil equivalents, with
further exploration and appraisal potential. Aker BP and Equinor will jointly
develop and operate NOAKA, with LOTOS Exploration and Production Norge AS as
license partner. Aker BP is operator of NOA Fulla. Equinor of Krafla.
The ambition is to develop the NOAKA area with a minimal carbon footprint and
the facilities will be powered from shore. Digital solutions will be used
extensively to ensure high efficiency and low emissions.
Aker Solutions defines a very large contract as being between NOK 2.0 billion
and NOK 3.0 billion.
Fredrik Berge, mob: +47 450 32 090, email: firstname.lastname@example.org
Aker Solutions delivers integrated solutions, products and services to the
global energy industry. We enable low-carbon oil and gas production and develop
renewable solutions to meet future energy needs. By combining innovative digital
solutions and predictable project execution we accelerate the transition to
sustainable energy production. Aker Solutions employs approximately 15,000
people in more than 20 countries.
Visit akersolutions.com and connect with us on
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This press release may include forward-looking information or statements and is
subject to our disclaimer, see https://akersolutions.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by Lars Kulsrud, Senior Manager,
Communications, Aker Solutions, on September 15, 2021 at 07:30 CEST.
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