Teledyne Oil & Gas Announces Record Contract Award from Aker Solutions

Teledyne Technologies Incorporated (NYSE: TDY) today announced that its Teledyne Oil & Gas group has been awarded a contract by Aker Solutions for materials and engineering support covering subsea electrical and optical wet-mate interconnects. Shipments are expected to commence late in the fourth quarter of 2014 and continue throughout 2015. In April 2014, Aker Solutions announced the award of a contract from Total to provide a subsea production system for the Kaombo Block 32 development, located approximately 150 kilometers off the coast of Angola. The project includes the delivery of 20 subsea manifolds, 65 vertical subsea wellsets, as well as associated controls and work-over and tie-in systems. “Teledyne Oil & Gas has a well-established partnership with Aker Solutions,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “We are honored and pleased to be selected to play a significant role in the success of the Kaombo project.”