Aker Solutions Wins Lundin Norway Deal

The agreement covers early-phase studies, pre-engineering (FEED) work, verifications and follow-on engineering for Lundin Norway. It encompasses engineering work from Aker Solutions (AKSO.OL)' three business areas - Engineering, Subsea and Maintenance, Modifications and Operations - as well as the company's integrated study house, Front End Spectrum. The contract has a fixed period of three years and may be extended by as many as two years.

The first delivery will be a study for a floating production, storage and offloading (FPSO) unit for the Alta and Gohta oil development in the Barents Sea. The contract is part of the first-quarter order intake.

"We are pleased to have this opportunity to work long term with Lundin," said Per Harald Kongelf, head of Aker Solutions' Norwegian operations. "The company's focus on the southern Barents Sea fits well with our technology and engineering expertise for even the most challenging conditions."

Aker Solutions has previously provided engineering work for Lundin's Edvard Grieg development as well as the subsea production system for the Brynhild field. The new agreement gives Lundin access to Aker Solutions' technical expertise and lifecycle knowledge from the full range of field developments.