Aker Solutions signs contract with Repsol Sinopec Brazil

7/4/2013, 8:00 AM (Source: GlobeNewswire)

4 July 2013 - Aker Solutions' subsidiary Managed Pressure Operations will deliver managed pressure drilling (MPD) systems and riser gas handling services to Repsol Sinopec Brazil. The parties agreed not to disclose the value of the order.

The three-year contract comes with an option for an additional two years of services. Repsol will use the equipment at an ultra-deepwater operation in the Campos Basin.

"This contract will demonstrate the unique capabilities of our riser gas handling safety system and introduce the first deep-water application of our riser drilling device into an offshore MPD system below the tensioner on a rig," says Charles Orbell, head of Managed Pressured Operations (MPO), which is part of Aker Solutions' drilling technologies business.

The riser gas handling system helps control wellbore fluids during offshore oil and gas drilling. It detects an influx of gas into a drilling riser and diverts the gas to prevent a blowout.

MPD technology improves drilling performance and safety. The riser drilling device seals the area around the drill pipe during drilling operations. Integrating a riser drilling device with a riser gas handling system enables MPD drilling operations.

Aker Solutions in February 2013 acquired Managed Pressure Operations International, which provides knowledge and technologies within the emerging managed pressure drilling segment. MPD is used to improve safety and efficiency during drilling operations, enable access to new fields with challenging drilling conditions and enhance the life of mature fields.

The contract has been booked as order intake in the second quarter of 2013.

ENDS

For further information, please contact:

Media:
Severin Roald, Vice President Communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: severin.roald@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 28 000 people in more than 30 countries. We apply the knowledge and create and use technologies that deliver our 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 2012 Aker Solutions had aggregated annual revenues of approximately NOK 45 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.





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Source: Aker Solutions ASA via Thomson Reuters ONE

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