Aker Solutions Aces Well Services Contract for BP's North Sea Assets

Aker Solutions has entered into a frame agreement with BP Norge AS to provide well intervention services on all BP-operated assets, including Valhall, Ula and the future Skarv development, on the Norwegian continental shelf.

The initial contract period is for three years, with two additional one-year options. Aker Solutions estimates that the agreement will generate annual revenue of approximately NOK 35-40 million.

Under the agreement Aker Solutions will provide mechanical wireline, wireline tractor and production logging services, which are all services that aim at maintaining and increasing the production of oil and gas.

"We have provided BP with well intervention services in Norway since 1986 and are very pleased with being selected as BP's preferred service provider for both existing and new fields on the Norwegian continental shelf," said Ole Petter Thomesen, president of Aker Solutions' well service business unit.

"Through our long and successful business relationship, we have detailed knowledge of BP's assets in Norway and we are confident that we will continue to add value to their business. We are also pleased that the new contract includes the Skarv field. This is the largest ongoing field development project in Norway and is planned to come on-stream in 2011. We look forward to being part of this important field development project," addedThomesen.

Aker Solutions' contract party is Stavanger-based Aker Well Service AS.