ExxonMobil Extends Maintenance Contract with Aker Solutions

ExxonMobil has decided to extend the maintenance and modification contract with Aker Solutions, releasing a new option on an existing agreement. Work under the new option will last until December 2011. Aker Solutions estimates the contract value to be approximately NOK 300 -400 million.

The original maintenance and modification contract with ExxonMobil was signed in December 1998. The contract had a duration of three years, and included seven options of two years each. This is the fifth option that ExxonMobil has exercised under this contract. Aker Solutions has carried out several large modifications for ExxonMobil over the last decade, including services on the production vessels Balder and Jotun A, as well as the platforms Jotun B and Ringhorne.

"We are proud that ExxonMobil again has shown their trust in our services. This enables us to continue executing EPCI projects and providing support to all of ExxonMobil's offshore assets in the Norwegian North Sea. We are now heading into very interesting phases, including preparation for the 2010 shutdown and the field life extension plans for Balder," said Stian Vemmestad, President of Maintenance, Modifications and Operations in Aker Solutions.

Aker Solutions scope of work for ExxonMobil typically involves engineering design studies, engineering, procurement, construction and installation (EPCI) contracts as well as support to the client's offshore organization.

Work under the contract is ongoing. This fifth option phase will start Decemeber 18, 2009 and last until December 17, 2011.

The contract parties are Aker Solutions' subsidiary Aker Offshore Partner AS and ExxonMobil Exploration and Production Norway AS.