News Column

Skandi Aker Vessel Contract is canceled by Total

June 27, 2014



ENP Newswire - 27 June 2014

Release date- 26062014 - 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.

Media Contact:

Bunny Nooryani

Aker Solutions

Tel: +47 67 59 42 71

Mob: +47 480 27 575

Email: bunny.nooryani@akersolutions.com

Investor Contact:

Lasse Torkildsen

Aker Solutions

Tel: +47 67 51 30 39

Mob: +47 911 37 194

Email: lasse.torkildsen@akersolutions.com

Aker 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.


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Source: ENP Newswire


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