Aker Solutions expects the LOI to be converted to a full Engineering, Procurement, Construction and Installation (EPCI) contract during the first quarter of 2023. The company expects to book a substantial1 order intake related to this contract in the first quarter of 2023 in the Electrification, Maintenance and Modifications (EMM) segment, subject to regulatory approvals.

The award of the LOI follows completion of front-end engineering and design (FEED) work performed by Aker Solutions.