Aker Solutions ASA: Aker Solutions Wins Dvalin North Subsea Contract from Wintershall Dea

22 Dec 2022 14:30 CET

December 22, 2022 - Aker Solutions has been awarded a sizeble¹ contract from
Wintershall Dea to provide the subsea production system for the Dvalin North
field development, offshore Norway. The development concept is a subsea tie-back
to the Heidrun platform, utilizing existing infrastructure in the region,
ensuring future production volumes with low carbon intensity.

Aker Solutions will deliver a subsea production system including three
horizontal subsea trees and control systems, a four-slot steel subsea template
with an integrated manifold system, three wellhead systems and associated tie-in
and installation work. The scope also covers 10 kilometers of static subsea
umbilicals. The Work starts immediately with final deliveries planned for end
-2025.

"This award demonstrates our strong capabilities in delivering tie-back
solutions to increase production at existing areas in the most efficient and
safe way. The Dvalin North field was the largest discovery in Norway in 2021.
With this award, we will help enable Wintershall Dea to continue to build on its
existing position as one of the largest producers of Norwegian gas at a time
when energy security is critical in Europe," said Maria Peralta, executive vice
president and head of Aker Solutions' subsea business.

About the field
The Dvalin North gas field is located around 200 km off the coast of Northern
Norway, west of Sandnessjøen at a water depth of 420 metres. It is estimated to
contain around 84 million barrels of oil equivalent, and the gas will be
exported via the Polarled pipeline to Nyhamna near Kristiansund in mid Norway.
Dvalin North is scheduled for planned start-up late 2026. Wintershall Dea is
operator of the field with a 55% share. Petoro has 35% and Sval Energi has 10%.

The contract will be booked as order intake in the fourth quarter of 2022 in the
Subsea segment.

[1]Aker Solutions defines a sizeable contract as being between NOK 0.5 billion
and NOK 1.5 billion

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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