December 3, 2018 - Siemens and Aker Solutions have signed a strategic collaboration agreement to further develop digital offerings in engineering, operations and services.

The collaboration focuses on the creation of software applications and joint service offerings including the development of industrial digital twins that will drive efficiency throughout the entire plant lifecycle. In addition, the companies will further develop specific offerings for the oil and gas sector based on Siemens' Comos engineering platform. These solutions will help customers to reduce engineering and operational cost and enable improved decision making.

The agreement builds on a long-standing, successful relationship between both companies by combining individual strengths and promoting joint offerings.

Aker Solutions will bring in its domain expertise and sector-specific digital offerings in field development, asset performance and integrity, while Siemens will provide a wide range of digital offerings for the process industries - ranging from automation equipment to software applications for engineering and simulation.

"We are excited to strengthen our existing relationship with Siemens", said Dean Watson, Aker Solutions' chief operating officer. "By working together to develop and deploy advanced digital solutions, we will allow our customers to liberate data and solve important engineering challenges. Within the energy industry - and beyond - digital twin solutions are providing increased insight which in turn enables better performance, maintenance and investment decisions. We look forward to working with a trusted partner like Siemens to further enhance these offerings".

Eckard Eberle, CEO Process Automation Business Unit, at Siemens added "With this collaboration we are combining Aker Solutions' strong knowledge in upstream oil and gas projects as well as its domain-specific digitalization offerings with Siemens' extensive knowledge in the field of electrification, automation and digitalization. Customers across a broad range of industries, including the oil and gas industry will benefit from an enhanced joint offering that will increase their productivity, efficiency and flexibility."

ENDS

Media Contact:
Colin Ross, tel: +44 1224 750550, e-mail: colin.d.ross@akersolutions.com

Investor Contact:
Fredrik Berge, tel: +47 22 94 62 19, mob: +47 450 32 090, e-mail: fredrik.berge@akersolutions.com

Aker Solutions helps the world meet its energy needs. We engineer the products, systems and services required to unlock energy. Our goal is to maximize recovery and efficiency of oil and gas assets, while using our expertise to develop the sustainable solutions of the future. Aker Solutions employs approximately 14,000 people in more than 20 countries.

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About Siemens
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment - such as computed tomography and magnetic resonance imaging systems - and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide.

Further information is available on the internet at www.siemens.com

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