Aker Marine Contractors, the Subsea Umbilicals, Risers & Flowlines and floater installation unit of Aker Solutions, was awarded the US$30 million mooring installation contract from MODEC Offshore Production Systems (Singapore) Pte Ltd. MODEC will supply the PSVM FPSO to BP for the oil company's PSVM (Plutão, Saturno, Vênus and Marte) development in Block 31 offshore Angola. The FPSO will be installed in approximately 2 000 meters water depth and have production capacity of 157,000 barrels per day. "This contract represents another significant step forward in our relationship with MODEC," says Erik Wiik, President - Subsea North America, Aker Solutions. "After having successfully installed the Jubilee FPSO offshore Ghana for MODEC in July 2010, we are honoured that MODEC is once again entrusting us with this critical scope of work. Aker Solutions is well established in Angola with engineering and service capabilities". On 22 October 2010, Aker Solutions announced that it had agreed to transfer the ownership in Aker Marine Contractors to Singapore listed Ezra Holdings Ltd (Ezra). As part of the agreement, Aker Solutions becomes a substantial shareholder in Ezra. The transaction is expected to be completed during Q1 2011.