Aker Solutions Secures Major Engineering Contract for Qatar's Maydan Mahzam Project

Aker Solutions Wins Engineering Award for Maydan Mahzam Project

OSLO, Norway – November 5, 2026 – Aker Solutions has successfully received a letter of award (LOA) from PTSC Mechanical and Construction Limited Company (PTSC MC) for a substantial engineering contract aimed at the redevelopment of the Maydan Mahzam oil field, which is located offshore Qatar. This marks a significant collaboration in the oil and gas sector, as Aker Solutions expands its footprint in one of the world's most productive regions.

The contract involves detail design work that will be executed by Aker Solutions' engineering teams positioned in Kuala Lumpur, Malaysia, and Mumbai, India. The Maydan Mahzam oil field is situated approximately 100 kilometers northeast of the Qatari coastline and 28 kilometers southeast of Halul Island, with water depths reaching around 40 meters. This prolific oil field, alongside its neighboring Bul Hanine field, was discovered in the 1960s and has been in continuous production since 1965.

As operator, QatarEnergy is spearheading a major redevelopment initiative aimed at modernizing and extending the operational longevity of the Maydan Mahzam field. This project garners importance not only for oil production but also demonstrates a commitment to improving and maintaining infrastructure in the energy sector. PTSC MC has been appointed by QatarEnergy for a key portion of this ambitious redevelopment plan.

Aker Solutions is set to provide comprehensive detail design services for multiple offshore installations comprising three major topsides, four jackets, and brownfield tie-ins. Guro Rausand, Executive Vice President of New Build at Aker Solutions, stated, “This award represents the strength of our engineering organization and highlights our long-standing history of delivering complex offshore projects efficiently. Our Kuala Lumpur team possesses invaluable offshore oil and gas expertise, further supported by our Mumbai office and the broader capabilities of the Aker Solutions network. We are excited to facilitate the successful execution of the Maydan Mahzam project.”

It's noteworthy that the LOA is contingent upon the finalization and signing of the contract. Upon completion, Aker Solutions anticipates recording a significant order intake in the fourth quarter of 2026 under the Renewables and Field Development segment. According to Aker Solutions' criteria, a sizeable contract is classified as one ranging between NOK 0.5 billion and NOK 1.5 billion.

With this key award, Aker Solutions underlines its strategic positioning in the global oil and gas market, demonstrating their capability to manage and execute large-scale engineering projects efficiently. The ongoing efforts at the Maydan Mahzam oil field signify a robust future in the evolving landscape of energy production, with Aker Solutions at the forefront of facilitating sustainable development in the sector.

Conclusion

As Aker Solutions embarks on this new chapter in Qatar's energy sector, industry stakeholders are keenly observing the outcomes of this project. The alliance between Aker Solutions and PTSC MC, as powered by QatarEnergy's vision, sets a compelling precedent for how collaboration can lead to innovations in oil field redevelopment and operational excellence.

For further inquiries, please reach out to:
Preben Ørbeck, Investor Relations
Email: [email protected]
Phone: +47 470 10 611
Odd Naustdal, Media Contact
Email: [email protected]
Phone: +47 905 76 079

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