Aker Solutions is participating in a joint venture that has been issued a letter of award to provide offshore maintenance and modification services to an undisclosed client.
The contract is for a term of 5 years. The scope of work covers offshore assets which require maintenance and upgrades to maintain production levels.
The revenue under the awarded contract over the full term is equivalent to approximately USD 400 million.
Aker Solutions expects the negotiations to be completed and a binding contract to be signed by end of first quarter 2020.
Aker Solutions will book its full corresponding revenue under the contract as order intake in the quarter of the contract’s signing.