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Aker Solutions

Aker Solutions Sells Offshore Ship to Ocean Yield

AMC Connector AS, a Aker Solutions & Emas Offshore joint venture, has agreed to sell subsea construction & cable-lay vessel 'Lewek Connector'. In October 2010, Aker Solutions announced that it would sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings Limited (Ezra), which operates in the offshore construction market under the EMAS AMC brand name. As part of this transaction, Ezra agreed to acquire 50 percent of the shares in Lewek Connector's vessel owning company, AMC Connector AS. The divestment of Aker Marine Contractors marked the start of a restructuring of Aker Solutions, which has since streamlined the company into becoming a fully-fledged provider of oilfield products, systems and services. AMC Connector AS, which is a 50/50 joint venture between Aker Solutions and Emas Offshore Limited, is now selling the vessel Lewek Connector to vessel owning company Ocean Yield AS. Lewek Connector is being sold for a total consideration of USD 315-million, which will give a small positive result effect for Aker Solutions. The sale also provides Aker Solutions with a net cash release of approximately NOK 345 million. Aker Solutions owns approximately 7.4% of Ezra, which is listed on the Singapore stock exchange.The transaction will be completed in Q4 2012.


Aker Solutions Boosts Canada Presence

International oil service group Aker Solutions strengthens its commitment to the Canadian oil and gas market through taking full ownership of Newfoundland and Labrador-based AKCS Offshore Partner.   "The buy-out will support Aker Solutions' growth plans in North America and be the foundation for further expansion in St. John's and Atlantic Canada.  This is a firm commitment from Aker Solutions to continue to invest in this region to offer the best possible support to our


Aker Solutions Selected as Contractor for Brunei

Aker Solutions helps extend the life of the fields offshore Brunei. Aker Solutions has been selected as the management contractor for Brunei Shell Petroleum Co Sdn Bhd's (BSP) offshore construction and maintenance services. The contract runs for five years and has an estimated value of over NOK 2.3 billion. As the management contractor Aker Solutions will be responsible for managing the construction and maintenance work for BSP's offshore assets


StatoilHydro and Aker Solutions Sign Agreement

Aker Solutions has signed a letter of intent with StatoilHydro to enter into a frame agreement for the delivery of drilling equipment and related operational services.   The agreement will put Aker Solutions among the preferred suppliers of drilling equipment and operational services to StatoilHydro operated fields. The agreement for the delivery of Aker Solutions drilling equipment is awarded for a three year period with an optional period of two (2) x two (2) years


BP Extends Contract With Aker Solutions

akersolutions.jpg

BP has decided to extend the maintenance and modification contract with Aker Solutions, exercising a one year option in the existing agreement for the Ula, Valhall, Hod and Tambar fields. Work under the new option will last until April 2012. The contract value is estimated to be NOK 2-300 MNOK.   The original maintenance and modification contract was signed in 2005.    "We are very pleased that BP again demonstrates their trust in Aker Solutions


Aker Wins ExxonMobil Norwegian Shelf Contract

Aker Solutions is awarded a frame agreement by ExxonMobil Exploration and Production Norway AS for Norwegian Shelf operations The frame agreement covers engineering, procurement, construction and installation for ExxonMobil's operated assets on the Norwegian continental shelf. The fixed contract duration is five years from 2012 to 2017, with options for two additional five year periods. The frame agreement will be managed from Stavanger.


Aker Pulls the Plug on NPS Energy Acquisition

Aker Solutions has ended the process to acquire the Dubai-headquartered oil services company NPS Energy. Aker Solutions announced an agreement to buy the shares in NPS Energy on 21 May 2012. The agreement was conditional upon a series of parameters being fulfilled before the end of the closing period. The agreement stated that if the transaction had not closed by 20 November 2012, both parties had the right to terminate from 21 November 2012


Aker Wins Deepwater Drill Riser Contract

Offshore Drilling Riser: Photo credit Aker Solutions

Aker Solutions contracted by Daewoo Shipbuilding & Marine Engineering (DSME) to supply deepwater drilling riser. The 10 000 ft deepwater drilling CLIP riser system will be manufactured and delivered out of Aker Solutions' manufacturing plant in Port Klang, Malaysia. Delivery of the drilling riser system is scheduled for November 2014. The contract value is undisclosed. The delivery is related to the second of two options included in the drilling riser contract announced in July 2011


Aker Solutions to Supply Six Jurong Shipyard Drillships

Aker Solutions wins contract to supply drilling equipment packages for a series of six deepwater drillships for the Brazilian market. The six new vessels will be operated by Norwegian drilling operators Seadrill and Odfjell Drilling (3 each) under 15-year charter contracts from Petrobras. The drillships will be capable of operating at 10,000 feet water depth and drilling to depths of 40,000 ft. Aker Solutions' contract includes complete topside and subsea equipment (drilling riser and


Aker Solutions Removes EPC-LNG From Backlog

The $665m  EPC-LNG contract was awarded to the joint venture (50/50) between Aker Solutions (formerly Aker Kvaerner) and IHI, Inc. (formerly Ishikawajima-Harima Heavy Industries) and announced in a stock exchange release 19 July 2006, pending the issue of a Full Notice to Proceed from Ingleside Energy Corporation. Not having received such a Notice to Proceed effects Aker Solutions' backlog by USD 330 million. As a result


Aker Solutions Starts Trading After Company Split

The split creates a simpler and more focused Aker Solutions that is better positioned to meet the needs of customers in an increasingly competitive global energy industry

  Aker Solutions today started trading on the Oslo stock exchange as a leaner and more streamlined company that will build on its strengths in the subsea and field design markets. The company emerges after a spin-off of the Subsea, Umbilicals, Engineering and Maintenance


Aker Solutions Demerger Registered

Photo: Aker Solutions / Rolf Estensen

The consummation of the demerger of Aker Solutions ASA (the existing Aker Solutions) was registered with the Norwegian Registry of Business Enterprises after the close of trading on the Oslo Stock Exchange on September 26, 2014. The separation of Aker Solutions into two independent companies


Aker Wayfarer Wins 5-Yr Contract from Petrobras

Photo  Aker Solutions

  Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) has won a contract worth USD 465 million over five years from Petrobras to provide subsea intervention services offshore Brazil from the Aker Wayfarer vessel. The contract will start within the fourth quarter of 2016 and has a


'Aker Wayfarer' Wins Petrobas Subsea Contract

Skandi Aker OSV: Photo Aker Solutions

Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) says it has won a contract worth US$465-million over five years from Petrobras to provide subsea intervention services offshore Brazil from the Aker Wayfarer vessel. The contract will start within the fourth quarter of 2016 and has a


PALFINGER Sells Offshore Crane Package to Aker Solutions

PALFINGER MARINE has sold a package of three travelling cranes and two foldable knuckle boom cranes to Aker Solutions for the use at the Mariner platform. The Mariner platform will be established at the Mariner field, which is located on the East Shetland Platform of the U.K. North Sea


Aker Solutions Update on Company Hive-Off

Image courtesy of Aker Solutions

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split of the business at the end of September. Previous pro forma financial information was disclosed in the information memorandum of


Aker Solutions to Lease 31,100 sq.m Aberdeen Office

David Currie: Photo Aker Solutions

"This move is a long-term investment for us and underlines our commitment to Aberdeen and our customers in the area," said David Currie, Aker Solutions' regional head in the UK. "The new offices will provide high-quality facilities and enable us to bring the majority of our


Aker Solutions Reports Earnings Prior to Split

Offshore work: Image credit Aker Solutions

Aker Solutions reports its second-quarter 2014 earnings ahead of its plan to split into two companies at the end of September 2014. One company will keep the current name and be comprised of the Subsea, Umbilicals, Engineering, and Maintenance, Modifications and Operations (MMO) areas.


Demerger Proposed at Aker Solutions

Photo: Aker Solutions

The board of directors of Aker Solutions ASA has in accordance with the strategy disclosed April 30 resolved to propose to the company's shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services


Aker Subcontracts RDS for Statoil FEED Work

RDS, a rig design and engineering subsidiary of international drilling contractor KCA Deutag, has been awarded a $10 million contract to carry out front-end engineering design (FEED) work on Statoil’s Johan Sverdrup development in the Norwegian North Sea.


Norway Offshore MMO Slowdown: Aker Helps Redundant Workers

Working offshore: File photo

Aker Solutions says it is transferring employees to a new subsea engineering hub in Stavanger and using the Aker Advantage recruitment agency to find work for more than 200 employees impacted by the slowdown in Norway's offshore maintenance and modifications market.


Statoil Awards Mariner Contracts to UK Suppliers

Gunnar Breivik, managing director, Statoil Production (U.K.) Limited

  Statoil (U.K.) Limited has awarded the maintenance and modification services contract for the Mariner field to Aker Solutions UK.  The offshore services contract has been awarded to Stork Technical Services Limited, also based in the UK.


UK Suppliers Win Statoil Contracts

Gunnar Breivik, managing director, Statoil Production (U.K.) Limited (Credit Statoil)

Statoil (UK) Limited has awarded Aker Solutions UK with the maintenance and modification services contract for the Mariner field.  Likewise, the offshore services contract was awarded to Stork Technical Services Limited (UK). Aker Solutions will perform the services for the Mariner field


Total Cancel 'Skandi Aker' Vessel Contract

Skandi Aker: Photo Aker Solutions

Aker Solutions' subsidiary Aker Oilfield Services says it has been notified by Total in Angola of the termination of a USD 250 million, two-year contract for the 'Skandi Aker'. Aker explain that the Skandi Aker started operations as a well-intervention vessel for the first time in September 2013


Aker Solutions Appoints Head of Industry & Investor Relations

Aker Solutions says it has recruited David Phillips from HSBC Global Equity Research as head of industry and investor relations. He will start on June 17, 2014. Phillips, 43, served as global co-head of oil and gas research and managing director at HSBC since mid-2011 after joining the bank as






 
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