Aker Solutions awarded substantial M&M contract by ConocoPhillips

28 Nov 2025 12:45 CET

November 28, 2025 - Aker Solutions has signed a six-year frame agreement with
ConocoPhillips Skandinavia AS (ConocoPhillips), which includes an option to
extend the contract for up to two additional three-year periods.

The contract is an extension for brownfield maintenance and modification (M&M)
services on the Eldfisk and Ekofisk fields offshore Norway, with the new
contract period starting in January 2027.

Together, the Eldfisk and Ekofisk installations represent one of the most
significant maintenance and modification portfolios offshore Norway for Aker
Solutions.

"The global offshore industry needs standardized and efficient solutions,
executed with speed and precision. Our aim is to reduce costs without
compromising safety," said Paal Eikeseth, Executive Vice President and head of
Aker Solutions' Life Cycle Business.

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 agreement
will also provide work for offshore employees.

"We look forward to continuing our long-term collaboration with ConocoPhillips
as a trusted partner. This contract award is a strong testament to the quality
and consistency our teams have delivered over many years. Together, we will
ensure continuity in the maintenance and modification work at Eldfisk and
Ekofisk," said Eikeseth.

The value of the contract will depend on the volume of maintenance and
modification work carried out over the next six years, and Aker Solutions
classifies the contract as substantial[1].

The contract will be booked as an order intake in the fourth quarter?of 2025 in
the Life Cycle segment.

[1]Aker Solutions defines a substantial contract as being between NOK 2,5
billion and NOK 4 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 12,000
people in more than 15 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 subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

This stock exchange release was published by Hallvard Norum, VP Media &
Channels, Aker Solutions, on November 28, 2025 at 12:45 CET.

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