FPSO installation deal to Aker Solutions

1/3/2011, 8:30 AM (Source: GlobeNewswire)
3 January 2011 - MODEC Offshore Production Systems (Singapore) Pte Ltd. has
awarded Aker Solutions' wholly-owned subsidiary Aker Marine Contractors a
mooring installation contract for hook-up of the Bourgogne FPSO offshore Angola.
Contract value is approximately USD 30 million.

MODEC will supply the PSVM FPSO to BP for the oil company's PSVM (Plutão,
Saturno, Vênus and Marte) development in Block 31 offshore Angola.  The FPSO
will be installed in approximately 2 000 meters water depth and have production
capacity of 157,000 barrels per day.

"This contract represents another significant step forward in our relationship
with MODEC," says Erik Wiik, President - Subsea North America, Aker Solutions.
 "After having successfully installed the Jubilee FPSO offshore Ghana for MODEC
in July 2010, we are honoured that MODEC is once again entrusting us with this
critical scope of work. Aker Solutions is well established in Angola with
engineering and service capabilities".

Aker Marine Contractors (AMC) is a global market leader when it comes to
installation of floating platforms.

Project management and operations planning will be performed from Aker
Solutions' offices in Houston, Texas. The contract party is Aker Marine
Contractors US Inc.

On 22 October 2010, Aker Solutions announced that it had agreed to transfer the
ownership in Aker Marine Contractors to Singapore listed Ezra Holdings Ltd
(Ezra). As part of the agreement, Aker Solutions becomes a substantial
shareholder in Ezra. The transaction is expected to be completed during Q1 2011.

By becoming part of Ezra, AMC will have access to a larger and rapidly growing
fleet of installation vessels covering all IMR and SURF installation segments -
including flexible and rigid pipelay with capacity up to 3,500 metres water
depth - which will enable Ezra/AMC to compete with the world's leading SURF
contractors.

Ezra operates in the offshore market under the EMAS brand name. EMAS is an
integrated offshore support solutions provider for the oil and gas industry. The
business was founded in 1992 and is headquartered in Singapore.

ENDS

For further information, please contact:

Media:

Endre Johansen, VP Communications, Aker Solutions. Tel: +47 22 94 58 91, Mob:
+47 416 10 605, E-mail: endre.johansen@akersolutions.com

Investor relations:

Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39,
Mob: +47 911 37 194

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

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"),
is a leading global provider of engineering and construction services,
technology products and integrated solutions. Aker Solutions' business serves
several industries, including oil & gas, refining & chemicals, mining & metals
and power generation. The Aker Solutions group is organised in a number of
separate legal entities. Aker Solutions is used as the common brand/trademark
for most of these entities.



Aker Solutions' parent company is Aker Solutions ASA.  Aker Solutions has
aggregated annual revenues of approximately NOK 54 billion and employs
approximately 22 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies
with a focus on energy, maritime and marine resource industries. The Aker
companies share a common set of values and a long tradition of industrial
innovation. As an industrial owner controlling 40.27 percent of the shares in
Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the
development of Aker Solutions.

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






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originality of the information contained therein.

Source: Aker Solutions ASA via Thomson Reuters ONE

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