Statoil awards Aker Solutions Gudrun tie-in to Sleipner for $148MM

Source: Aker Solutions

Statoil (NYSE: STO) has awarded Aker Solutions the Sleipner Modifications Portfolio Agreement and the first project-specific agreements for engineering, procurement, construction and installation (EPCI) for the Gudrun tie-in to Sleipner in the North Sea. The order is worth approximately US $148 million (NOK 900 million) and replaces the letter of intent announced July 14.

"We are pleased to win the portfolio agreement for modifications in the Sleipner area and we are looking forward to take on the Gudrun tie-in work for Statoil and its partners. This order confirms Aker Solutions' leading position within advanced and complex modifications in the North Sea," says Stian Vemmestad, president for maintenance, modifications and operations in Aker Solutions.

Positioning for more advanced and complex modifications projects in the North Sea is a strategic objective for Aker Solutions' maintenance and modifications business (MMO).

The Sleipner area is the second largest gas producer in the North Sea, after the Troll field. Gudrun is a major field development project in the Sleipner area. Sleipner will process oil and gas from Gudrun in addition to supplying power to the Gudrun platform.

The work will be managed out of Aker Solutions' regional office in Stavanger and will also engage prefabrication resources at Aker Solutions' yard in Egersund. Work under the contract will be completed in October 2013.

The contract parties are Aker Solutions' subsidiary Aker Offshore Partner AS and Statoil Petroleum AS.



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