Aker Solutions secured a contract from Statoil to deliver a compression module for the Troll field in the North Sea to help boost output at one of Norway's key offshore fields. Photo: Øyvind Hagen / Statoil.

The contract is valued at NOK 370 million and is an option in a front end engineering and design (FEED) agreement awarded to Aker Solutions in January. The scope is for engineering, procurement, construction and installation (EPCI) to boost the gas treatment capacity at Troll B to increase oil recovery. Aker Solutions has worked closely with the customer to find cost-efficient solutions.

"This project has targeted key cost savings to create the sustainability the industry depends on and is looking for during these challenging times," said Knut Sandvik, head of Aker Solutions' maintenance, modifications and operations business.

The engineering work will be carried out by Aker Solutions in Bergen and module construction will start at the company's yard in Egersund in 2017. The module will be delivered in the third quarter of 2018.

The contract will be booked as part of Aker Solutions' third-quarter order intake.

About Aker Solutions

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 13,000 people in about 20 countries.

About Statoil

Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Stavanger, Norway, with approximately 23,000 employees worldwide, and are listed on the Oslo and New York stock exchanges.