Aker Solutions, Cognite Win $2M Grant for Floating Wind Farm Tech
California Energy Commission has awarded Aker Solutions and Cognite a $2 million grant for a project called NextWind Real-Time Condition Monitoring.The project is focused on next-generation solutions in wind through digitalization and aims to develop a holistic digital…
Aker Solutions Raises 2019 Forecasts
Norway's Aker Solutions ASA raised its 2019 revenue outlook on expected higher spending on the offshore oil services and reported better than expected first-quarter profits, lifting its shares on Tuesday.The upbeat sentiment on oilfield spending is a result of record…
Aker Solutions, Equinor Strengthen Collaboration
Aker Solutions has signed a strategic, global collaboration agreement with Equinor to ensure mutual and continuous improvement on current and future subsea projects within the domains of safety, quality, technology, execution and cost."Aker Solutions and Equinor's…
Aker Solutions CEO Expects Brazil Revenue to Double Within 5 yrs
The chief executive of Norwegian oil services firm Aker Solutions said on Tuesday he sees big growth potential from its Brazilian business and from scaling up its exposure to floating offshore windfarms."I expect Brazil in five years to be at least twice where it is today for us ...
Aker Solutions to Supply Umbilicals for Liuhua FPSO
Aker Solutions said it has been contracted to deliver power umbilical systems to China National Offshore Oil Corporation's (CNOOC) Liuhua oil fields in the South China Sea, off Hong Kong.The order, which is said to be worth more than NOK 350 million ($36.6 million), was booked in the third quarter of 2018.
Resilient Market Spurs Aker Solutions's Earnings
Norwegian oil services company Aker Solutions reported strengthened earnings for the first quarter of 2018 as orders almost doubled from a year earlier amid increasing signs of a market recovery."We are seeing increasing signs of a market rebound as lower break-even costs and higher oil prices spur project sanctions…
Aker Solutions' Shares Surge, Recovery in Sight
Shares of Norwegian oil services company Aker Solutions surged on Friday on higher than expected quarterly earnings, a better outlook and a new contract, signalling the end of a three-year downturn in its markets. The company, controlled by Norwegian billionaire investor Kjell Inge Roekke…
Aker Solutions Wins Troll FEED Contract With EPCI Option From Statoil
Aker Solutions said it has won a contract from Statoil for front end engineering and design of a module that will increase output at Troll, one of Norway's largest natural gas fields. The order includes an option for engineering, procurement, construction and installation of the module…
Aker Solutions to Acquire Reinertsen
Aker Solutions said it has agreed to buy oil-services provider Reinertsen in an asset deal set to be concluded in the second quarter, giving Aker Solutions ownership of Reinertsen's Norwegian oil and gas services business. The purchase price is NOK 212.5 million (roughly $25 million).
Aker Solutions Secures Work for Njord A Upgrade
Aker Solutions will provide design engineering for the upgrading of the semi-submersible Njord A platform in Norway. The company will as a subcontractor of Kvaerner take part in upgrading the platform after operator Statoil exercised an option in an agreement awarded in April 2016.
Aker Solutions Secures Engineering Work for BP
Aker Solutions was awarded two framework agreements to provide concept and front-end engineering (FEED) services for BP globally. The first contract is for feasibility and concept engineering and the second is for FEED services covering the full range of upstream developments.
Aker Wins Hook-Up Deal for Johan Sverdrup Field
Aker Solutions won a contract from Statoil for the hook-up of the riser platform for the Johan Sverdrup field, Norway's largest offshore development in the past three decades. The company will work closely with subcontractor Kvaerner on joining together the platform's seven modules…
Aker Solutions CEO: More Activity in 2018
Oil services firm Aker Solutions CEO Luis Araujo says he sees 2017 as a transition year towards more activity in 2018. * I think on a global basis we see a lot of opportunities for gas in places like West Africa, India. We see opportunities for tie-backs in Norway. I think it's global.
Aker, BP Ink Subsea Framework Deal
Aker Solutions secured two five-year framework agreements for potential future deliveries of subsea production systems and lifecycle services at BP-operated oil and gas fields globally. The first five-year contract covers engineering, procurement and construction of…
Aker Solutions to Acquire Majority Stake in Brazil's C.S.E.
Aker Solutions agreed to buy 70 percent of Brazilian C.S.E. Mecânica e Instrumentação Ltda, with an option to purchase the remaining 30 percent of the company three years after the expected close of the transaction by the end of the first quarter of 2017. The acquisition…
Aker Solutions Shuffles Leadership Team
Aker Solutions is introducing a new executive management structure effective November 1, 2016, with the aim to drive further standardization and boost companywide cost-efficiency by at least 30 percent by the end of 2017. The new organization will have five delivery centers: customer management…
Aker Solutions, Det norske and Subsea 7 Form Development Alliance
Aker Solutions, Det norske oljeselskap and Subsea 7 agreed on a "one for all, all for one" collaboration model that marks a major shift in how an operator and its suppliers can work together on oil and gas developments offshore Norway. The alliance combines Det norske's…
Aker Solutions Boosting Cost-efficiency
Aker Solutions says it is making progress in reaching a goal of boosting cost-efficiency in all areas of the company by at least 30 percent as part of a broader effort to strengthen its competitiveness amid current market challenges. A quarter of the targeted improvement will be achieved this year…
Aker Solutions Wins Order at Zohr Offshore Gas Field
Aker Solutions won a contract to deliver its longest-ever umbilicals system at the Zohr offshore gas field in the Egyptian part of the Mediterranean Sea. The agreement with Petrobel in Egypt is worth more than NOK 1 billion and will be booked in the second quarter.
Aker Solutions Opens Subsea Plant in Brazil
Aker Solutions has formally opened its new subsea manufacturing and technology plant in Curitiba, Brazil. The facility will employ about 850 people and is dedicated to machining, welding, surface treatment, assembly and testing of Christmas trees and other subsea equipment.
