July 12, 2016 - 2:00 AM EDT
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Aker Solutions Wins Engineering Contract in Vietnam From Idemitsu Oil and Gas

July 12, 2016 - Aker Solutions secured a contract from Idemitsu Oil and Gas Co., Ltd. to provide engineering services for the development of oil and gas resources in the Nam Con Son basin offshore Vietnam.

It is the first time Aker Solutions teams up with Idemitsu on a project in Asia Pacific and marks an expansion into a key new market, Vietnam. The nine-month contract is for front end engineering design (FEED) work for the Sao Vang and Dai Nguyet developments in the Idemitsu-operated blocks 05-1b and 05-1c in the Nam Con Son basin.

"We are pleased with the opportunity to for the first time work with Idemitsu Oil and Gas in such an important emerging market as Vietnam," said Luis Araujo, chief executive officer of Aker Solutions. "This will further strengthen our reach in Asia after building an important regional base in Malaysia."

The FEED outcome will be used by Idemitsu Oil and Gas to make an investment decision for the first phase of development at the Vietnamese basin.

For Aker Solutions the project will at its peak involve about 100 engineers, designers and drafters out of the company's regional hub in Kuala Lumpur.

The contract is part of the company's second-quarter order intake.

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: [email protected]

Anne Cecilie Lund-Andersen, Media Relations Manager, Aker Solutions. Tel: +47 22 94 74 52, Mob: +47 99 62 12 13, E-mail: [email protected]

Investors:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel: +44 208 811 7111, Mob: +44 7788 338 887, E-mail: [email protected]

Per Christian Olsen, Analyst, Investor Relations, Aker Solutions. Tel: +47 67 51 36 58, Mob: +47 900 29 077, E-mail: [email protected]

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 15,000 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 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

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Source: Thomson Reuters ONE (July 12, 2016 - 2:00 AM EDT)

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