Aker Solutions Wins Order for World's Largest Umbilicals System

October 20, 2017 - Akastor won an order valued at more than NOK 1.6 billion to deliver the largest umbilicals system ever.

The contract entails delivery of 250 kilometers of steel-tube umbilicals linking a subsea development to an existing offshore platform. 

"We are honored to have been selected to work on this project, which is groundbreaking in terms of the size and technology of the umbilicals system," said Luis Araujo, chief executive officer of Akastor . 

The work will be led by Akastor in Oslo and manufacturing will take place at the company's umbilicals plant in Moss, Norway. Delivery is set for the end of 2018.

The parties have agreed to not disclose the name of the project or customer at this point.

Umbilical systems are full service connections used to transport data, power and liquids between oil and gas installations on the seafloor to onshore facilities or platforms.

ENDS

Media Contact :
Bunny Nooryani, tel: +47 67 59 42 71, mob: +47 480 27 575, e-mail: bunny.nooryani@akersolutions.com

Investor Contact:
Fredrik Berge, tel: +47 22 94 62 19, mob: +47 450 32 090, e-mail: fredrik.berge@akersolutions.com

Akastor is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 14,000 people in about 20 countries. Go to http://akersolutions.com for more information on our business, people and values.

This press release may include forward-looking information or statements and is subject to our disclaimer, see http://akersolutions.com

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

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