Aker Solutions, Repsol Seal Mediterranean Subsea Deal

Aker Solutions has signed a contract with Repsol Investigaciones Petroliferas S.A. for delivery of subsea equipment to the Spanish oil company's Mediterranean wells. Contract value is approximately NOK 120 million.

Scope of work includes manufacturing and delivery of 12 kilometres of steel tube umbilicals, eight kilometres of subsea power cables, a topside control system and tie-in and connection system.

This deal follows a contract awarded to Aker Solutions in Q1 2008 for delivery of two subsea trees with control modules to the same field development project. The new equipment deliveries will complete the subsea production system and enable Repsol to connect the subsea trees to the production platform.

"We are very pleased to continue working with Repsol on this project. These latest deliveries help underline our ability as provider of field-wide subsea solutions. We see this contract as a recognition of our past performance," said Mads Andersen, executive vice president, Aker Solutions.

The project will be managed out of Oslo, Norway. Umbilicals and power cables will be manufactured in Moss, Norway. Control system will be manufactured in Aberdeen and Malaysia. Final equipment deliveries will be made in Q1 2011.

Aker Solutions' contract party is Aker Subsea AS.

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