June 2, 2023 -Aker Solutions andAker BP have agreed to extend a frame agreement for the provision of Subsea Production Systems untilDecember 31, 2028 . The original agreement, signed inJune 2016 , was valid for eight years. The Agreement may cover assistance toAker BP for feasibility studies and concept developments; front-end engineering and design; subsea development projects and services during project execution (engineering, procurement and construction). The extension further supportsAker Solutions' commitments to theSubsea Alliance , a project-execution agreement withAker BP andSubsea 7 that enables operator and contractors to work as one integrated team toward cost-effective solutions for developingAker BP's subsea field portfolio. "The extension of the frame agreement underscores our longstanding strategic partnership withAker BP and is important to ensure long-term activity levels on the Norwegian Continental Shelf," saidMaria Peralta , executive vice president and head ofAker Solutions' subsea business. The value of the work to be called off under the frame agreement will only be recognized byAker Solutions as subsea order intake when each new project is called off. ENDS Preben Ørbeck Investor Relations preben.orbeck@akersolutions.comHallvard Norum media contact hallvard.norum@akersolutions.comAker 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 Facebook (https://www.facebook.com/AkerSolutions/), Instagram (https://instagram.com/akersolutions/), LinkedIn (https://www.linkedin.com/company/aker-solutions), Twitter (https://twitter.com/akersolutions) and YouTube (https://www.youtube.com/akersolutions). This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com
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