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 December 18, 2015 - 2:30 AM EST
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Aker Solutions and Saipem to Cooperate on Subsea Projects

December 18, 2015 - Aker Solutions and Saipem agreed to cooperate on targeted subsea oil and gas development projects worldwide.

The companies will through a joint work group identify opportunities where they can create value for customers by combining Aker Solutions' capabilities in subsea products and technologies with Saipem's assets and expertise in engineering, procurement, construction and installation of subsea infrastructures.

"We will team up with Saipem on targeted projects, providing integrated solutions that will enable our clients to make the most of their upstream investments, reduce development time and lower operating costs," said Luis Araujo, chief executive officer at Aker Solutions.

The companies will engage with clients from the initial concept and design phase to promote total system engineering, providing the best solutions for construction, operations and maintenance. The collaboration will develop and manage all interfaces between subsea production systems and subsea umbilical, riser and flowline systems (SURF) as well as provide services over the lifetime of a field.

"Thanks to our cooperation with Aker Solutions our clients will have access to a wealth of complementary capabilities and resources from the earliest phases of the projects," said Saipem Chief Executive Officer Stefano Cao. "This joint effort will support efficient subsea development."

ENDS

About Aker Solutions

Aker Solutions 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 16,000 people in about 20 countries. Go to www.akersolutions.com for more information on our business, people and values.

About Saipem

Saipem is a world leader in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with contracts on an "EPC" and/or "EPCI", often "turn-key" basis, and has distinctive capabilities and unique assets with highest technological content.

Aker Solutions Contacts

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

Anne Cecilie Lund-Andersen, Media Relations Manager, Aker Solutions. Tel: +47 22 94 74 52, Mob: +47 99 62 12 13, E-mail: anne.cecilie.lund-andersen@akersolutions.com

Investors:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel: +44 208 811 7111, Mob: +44 7788 338 887, E-mail: david.phillips@akersolutions.com

Lasse Torkildsen, Senior Advisor, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194, E-mail: lasse.torkildsen@akersolutions.com

Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers

Career opportunities:
Visit http://www.akersolutions.com/careers

Saipem Contacts

Website: www.saipem.com
Switchboard: +39 025201

Media relations:
Tel: +39 0252034088
E-mail: media.relations@saipem.com

iCorporate press office:
Tel: +39 024678752; Mobile:  +39 3669134595
E-mail: saipem@icorporate.it

Relations with institutional investors and financial analysts:
Tel: +39 0252034653; Fax: +39 0252054295
E-mail: investor.relations@saipem.com

Contact point for retail investors:
E-mail: segreteria.societaria@saipem.com

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




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aker Solutions ASA via Globenewswire

HUG#1974662

Source: Thomson Reuters ONE (December 18, 2015 - 2:30 AM EST)

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