Aker Solutions ASA: Aker BP's Board Approves Field Development Projects

02 Dec 2022 07:03 CET

December 2, 2022 - Aker BP's board of directors yesterday decided that Aker BP
will vote for the approval of the NOAKA field development project, the Valhall
PWP-Fenris project, the Skarv Satellite project and the Utsira High projects.
Aker BP is the operator of these development projects, which are predominantly
planned to be executed together with Aker BP's alliance partners.

The final decisions to submit the Plan for Development and Operation (PDO) to
Norwegian authorities are scheduled to take place in the respective license
partnerships during the first half of December. If the PDOs are approved by the
respective license partnerships the plan is to submit the PDOs to the
authorities before year-end.

Aker Solutions has through the Aker BP alliance models executed the Front-End
Engineering and Design (FEED) work for these projects over the last year, under
a single source supplier setting. Aker Solutions expects that the abovementioned
projects combined could lead to contract awards worth around NOK 45 billion of
order intake in December 2022, subject to the PDO submission in mid-December
2022.

ENDS

Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email:
torbjorn.andersen@akersolutions.com

Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com

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.

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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 Daniel Ingebricson, Communications,
Aker Solutions, on December 2, 2022 at 07:03 CET.

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