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Aker Solutions Expands Operations with ExxonMobil Contract

Aker Solutions Expands Operations with ExxonMobil Contract

Aker Solutions Partners with ExxonMobil Canada for Expansion

Aker Solutions has entered into a significant five-year enabling contract with ExxonMobil Canada Properties, focusing on the Hebron platform. This extension is part of the ongoing brownfield maintenance and modification (M&M) services.

Contract Overview and Significance

This new contract represents an important evolution of the original engineering, procurement, and construction (EPC) agreement awarded in 2015. Aker Solutions has been actively enhancing the Hebron platform by implementing upgrades and modifications over the past several years, showcasing its long-standing commitment to the region.

Optimizing Project Execution

Executive Vice President Paal Eikeseth emphasized that the company will utilize its multi-discipline Project Execution Model to offer effective solutions that prioritize both speed and quality. This approach aims to ensure efficient outcomes while minimizing costs for all stakeholders involved.

Growth and Team Expansion

Aker Solutions has significantly expanded its workforce, growing from 100 to 350 employees at its St. John's, Newfoundland and Labrador site. This growth reflects the company’s dedication to supporting project demands and delivering exceptional value.

Acknowledging the Canadian Market

Eikeseth expressed satisfaction regarding the collaborative relationship with ExxonMobil Properties, highlighting Canada as a vital market for Aker Solutions. The company aims to continue to provide robust customer value through its unique capabilities and experience.

Future Outlook and Order Intake

This latest contract will be reflected in the order intake for the fourth quarter, which falls under Aker Solutions' Life Cycle segment. As Aker Solutions continues to make strides in brownfield services, it remains committed to operational excellence and customer satisfaction.

Defining Significant Contracts

Aker Solutions categorizes a significant contract as being valued between NOK 1.5 billion and NOK 2.5 billion. This definition underscores the importance of this new engagement with ExxonMobil Canada.

Contact Information

If you have inquiries regarding this contract or Aker Solutions’ operations, please reach out to:

Preben Ørbeck
Investor Relations
Phone: +47 470 10 611

Ruth Lycke
Media Contact
Phone: +47 906 65 931

Frequently Asked Questions

What is the purpose of the Aker Solutions and ExxonMobil contract?

The contract focuses on brownfield maintenance and modifications for the Hebron platform to enhance operational efficiency.

How long is the contract with ExxonMobil Canada?

The contract is set for a duration of five years.

What are the anticipated benefits of this contract?

The collaboration is expected to streamline project execution, reduce costs, and expand operational capabilities.

Where is Aker Solutions' team for this project based?

The team is primarily based in St. John's, Newfoundland and Labrador.

How does Aker Solutions define a significant contract?

A significant contract is defined by Aker Solutions as having a value between NOK 1.5 billion and NOK 2.5 billion.

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