Aker Solutions ASA: Aker Solutions secures new frame agreement with Vår Energi

20 Dec 2024 08:00 CET

December 20, 2024 - Aker Solutions has signed a sizeable[1] contract to deliver
maintenance and modification services for Vår Energi's Jotun, Balder, and
Ringhorne assets in the southern area of the Norwegian Continental Shelf (NCS).

The five-year agreement includes an option for Vår Energi to extend the contract
by up to three additional two-year periods.

"This contract renewal reflects our long-term relationship and status as Vår
Energi's preferred partner, highlighting that our commitment to improved
deliveries and optimized solutions is highly valued by our customers," said Paal
Eikeseth, Executive Vice President and head of Life Cycle, Aker Solutions.

Aker Solutions has been providing maintenance and modifications services for Vår
Energi's Jotun, Balder, and Ringhorne assets for more than 20 years. The
operator is currently Norway's second-largest exporter of gas and plays a
significant role in providing reliable and affordable access to energy to
Europe.

"Maintenance and modifications are essential to ensuring the safe and efficient
operation of our customers' installations and facilities. We look forward to
continuing our good collaboration with Vår Energi to achieve this goal," said
Eikeseth.

The work will be managed from Aker Solutions' office in Stavanger, Norway while
fabrication will be carried out at the company's yard in Egersund.

The work under the frame agreement starts January 2025.

The contract will be booked as order intake in the fourth quarter of 2024 in the
Life Cycle segment.

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

ENDS

Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611

Ruth Lycke
media contact
Ruth.Lycke@akersolutions.com
+47 906 65 931

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 11,700
people in more than 15 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) 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.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site