Aker Solutions to deliver MEG process plant to Ichthys LNG Project

7/17/2012, 8:31 AM (Source: GlobeNewswire)

17 July 2012 - Aker Solutions has been awarded a contract by Technip to supply a Mono Ethylene Glycol (MEG) reclamation plant for the Ichthys LNG Project in Australia. The contract value is approximately NOK 485 million.

The scope of work includes system engineering and supply of key equipment for the MEG plant and may include some further options. The equipment deliveries will be in 2013 and 2014.

"This contract confirms Aker Solutions' position as the world market leader for MEG reclamation technology. We are very pleased to be involved in the Ichthys LNG Project, and proud to participate in the exciting growth of the Australian oil and gas market," says David Merle, head of Aker Solutions' process systems business.

Management, engineering and procurement of the project will be carried out at Aker Solutions' offices in Oslo, Norway, with support from the Aker Solutions office in Perth, Australia.
 
MEG is used to prevent hydrate formation in subsea pipelines. It is injected at the wellhead and follows the gas and liquid flow to the gas processing facility. Aker Solutions' MEG reclamation technology combines unique chemistry knowledge and process technologies in removing water, hydrocarbons and salts efficiently, enabling MEG to be recycled with a high recovery rate and great quality while also reducing scaling and corrosion in the reclamation and injection systems.

Ichthys LNG Project
The Ichthys LNG Project is a joint venture between INPEX (Operator), TOTAL and other participants. Gas from the Ichthys Field, in the Browse Basin approximately 200 kilometres offshore of Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The gas will then be exported to onshore processing facilities in Darwin via an 889km subsea pipeline. The Ichthys LNG Project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.

The MEG reclamation plant will be located on the FPSO built by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea. Technip has responsibility for topside engineering.

The contract was signed and booked as order intake in the third quarter of 2012.

ENDS

For further information, please contact:

Media:
Endre Johansen, VP Corporate 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 91 13 71 94, 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

Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.

Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 25 000 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their customers' solutions.

Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange.

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

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.





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Source: Aker Solutions ASA via Thomson Reuters ONE

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