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Aker Solutions ASA (OSL:AKVER) Release Of Option Under The Statfjord Latelife Contract

Aker Solutions ASA (OSL:AKVER) 23 December 2008 - StatoilHydro has exercised the Phase 3 option for modification of the Statfjord B&C topsides with Aker Solutions. The option represents a continuation of the Statfjord Latelife project executed by Aker Solutions at present. Contract value is NOK 1 100 million.

"By exercising this option StatoilHydro shows its satisfaction with the services we have provided in connection with the first two phases of the strategically important Statfjord Latelife project", says Nils Arne Hatleskog, executive vice president in Aker Solutions with responsibility for all the new build developments and maintenances and modifications operations.

Aker Solutions was awarded the Statfjord Latelife contract on 15 April 2005, covering topside modification of the Statfjord B and C platforms for conversion from oil production to production of the gas re-injected throughout the oil production period. The phase 3 covers installation of electrical submerged pumps, replacement of flowlines, re-completion of wells and gas lift facilities. Additional scope might be called off under the option. Pre-engineering activities covering the scope under the phase 3 option is undertaken by Aker Solutions at present. Completion of the project will be in 2011.

Execution of EPCI modification projects is core business to Aker Solutions in the maintenance, modifications and operations business segment. Aker Solutions has developed an project execution model securing efficient and reliable performance of projects. Close relationship and cooperation with our clients under such contracts creates a unique environment for establishment and delivery of optimal services to our clients and their operating assets. Contract party is Aker Offshorepartner AS.

ENDS

For further information, please contact: Media: Jannik Lindbæk, SVP corporate communications, Aker Solutions. Tel: +47 67 51 30 36, Mob: +47 977 55 622 Investor relations: Lasse Torkildsen, SVP investor relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194

Suppliers: For further information about sourcing and potential subcontracts for this project, please contact [BA Global Sourcing Champion, telephone number found here: http://www.akersolutions.com/Internet/SuppliersCentre/Contacts/SupplyManagementContacts.htm.

Career opportunities: Visit http://www.akersolutions.com/Internet/CareerCentre

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 26 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Aker Solutions ASA

http://www.akersolutions.com/

ISIN: NO0010215684

Stock Identifier: XOSL.AKSO

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