Aker Solutions won a contract from Statoil for the hook-up of the riser platform for the Johan Sverdrup field, Norway's largest offshore development in the past three decades.

The company will work closely with subcontractor Kvaerner on joining together the platform's seven modules, which will be transported to Norway in the second quarter of 2018. The scope also covers planning, management and prefabrication.

The contract value is approximately NOK 900 million and will be split about equally between Aker Solutions and Kvaerner. Aker Solutions' share will be booked in its first-quarter orders.

"We're very pleased to continue supporting Statoil in driving forward this giant development, which will be of major importance to Norway for decades to come," said Luis Araujo, chief executive officer of Aker Solutions.

The work starts in February and will initially involve about 100 people from Aker Solutions, Kvaerner and Statoil, rising to as many as 1,000 people at its peak next year. It will be carried out mainly in Stavanger and offshore. Kvaerner will work closely with Aker Solutions and contribute to all parts of the project delivery.

"We look forward to teaming up with Kvaerner to deliver on this next milestone step and together work with Statoil to find the best possible solutions for this major development," said Knut Sandvik, head of projects at Aker Solutions.

The agreement also contains hook-up options for the field's processing and living quarter platforms, which are scheduled to be installed in 2019.

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 14,000 people in about 20 countries.

About Kvaerner

Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore plants for upstream oil and gas production around the world. Kvaerner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 2 700 HSSE-focused and experienced employees are recognised for delivering some of the world's most amazing and demanding projects.

In 2015, the Kvaerner group had consolidated annual revenues of approximately NOK 12 billion and the company reported an order backlog at 30 September 2016 of NOK 8.4 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange.

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.