News Column

Skandi Aker Vessel Contract is Canceled by Total

June 24, 2014

June 25, 2014  Aker Solutions' subsidiary Aker Oilfield Services was notified by Total in Angola of the termination of a USD 250 million, two-year contract for the Skandi Aker vessel. Skandi Aker started operations as a well-intervention vessel for the first time in September last year when the contract with Total commenced. The value of the remaining contract period is about USD 150 million and will be removed from the order backlog. The vessel's capacity utilization has been 37 percent so far in 2014 after operations halted at the end of March for maintenance and repairs. Aker Solutions will present more information on July 17, when financial results for the second quarter are released. Aker Oilfield Services will in September become part of Akastor, an oilfield services investment company that will be one of two companies formed as part of the announced separation of Aker Solutions. All financial consequences of the termination will be assumed and accounted for by the Akastor group. ENDS For further information, please contact: Media: Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: +47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani@akersolutions.com Investor relations: Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194, E-mail: lasse.torkildsen@akersolutions.comAker Solutions is a global provider of products, systems and services to the oil and gas industry. Our engineering, design and technology bring discoveries into production and maximize recovery from each petroleum field. We employ approximately 28,000 people in about 30 countries. Go to www.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 www.akersolutions.com. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Aker Solutions ASA via GlobeNewswire [HUG#1801971]


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