Aker Solutions won a framework contract from Statoil to provide engineering services, procurement and management assistance (EPma) for as many as 10 years at the Johan Sverdrup development in the Norwegian North Sea.

The accord includes front-end engineering design (FEED) work, for a value of NOK 650 million, as well as an EPma option for the development's first phase. It also has additional options for work in later phases.

"The Johan Sverdrup field is one of Norway's largest offshore oil discoveries and of huge importance to both our company and the country's oil and gas industry," said Øyvind Eriksen, executive chairman of Aker Solutions. "The contract will define Aker Solutions for years to come."

Aker Solutions this year conducted concept studies for Johan Sverdrup, which is estimated to hold between 1.8 billion and 2.9 billion barrels of oil equivalent. Statoil is the working operator for the development, which spans three licenses. Other partners include Lundin Norway, Petoro, Maersk Oil and Det norske oljeselskap.

"We've built a strong relationship with Statoil over the years, having worked closely together on many offshore developments," Eriksen said. "We greatly look forward to working with all the partners on this important project."

About Aker Solutions

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.

About Statoil

Statoil (OSE:STL, NYSE:STO) is an international energy company with operations in 34 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 approx. 23,000 employees worldwide, and are listed on the New York and Oslo stock exchanges.