Aker Solutions Secures Brownfield Services Contract in Brunei

OSLO, Norway, March 30, 2020 /PRNewswire/ -- Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP).

Scope of work covers maintenance and upgrades to maintain production levels for more than 200 offshore assets.

The name of the new entity is PTAS Aker Solutions Sdn Bhd. The joint venture will ensure continuity of delivery to BSP and has a strong local execution capability, combined with the full value of Aker Solutions' international expertise. The work will be managed from PTAS Aker Solutions Sdn Bhd's office in Kuala Belait, Brunei Darussalam.

"We are pleased to continue our work for Brunei Shell Petroleum and look forward to help extend the lifetime of the offshore installations in the South China Sea," said Luis Araujo, chief executive officer of Aker Solutions.

Since Aker Solutions secured the Offshore Reliability Maintenance and Construction contract for Brunei Shell Petroleum in 2012, the company has continuously improved the service delivery and introduced new working methods and technology to Brunei Shell Petroleum. Achievements include a strong HSSE performance, increasing local content by training a local workforce and setting up a fabrication yard that was handed over to a local company. At the same time, the productivity of offshore crew rose.

Aker Solutions currently employs more than 340 people in Brunei and manages 2,300 though local subcontractors.

As a result of the contract award, Aker Solutions will book order intake of about NOK 4 billion in the first quarter of 2020, in line with the company's announcement from January 15, 2020.

CONTACT:

Media Contact:
Ivar Simensen, mob: +47 464 02 317, email: ivar.simensen@akersolutions.com

Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-solutions-asa/r/aker-solutions-secures-brownfield-services-contract-in-brunei,c3076686

The following files are available for download: