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.
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 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 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 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 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
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 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 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 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 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.
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.
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 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.
(Reuters) - Saipem has won new contracts for off-shore engineering and construction in Congo and Indonesia worth a total $520 million, the Italian oil services group said on Monday. Saipem said parent company ENI had assigned a consortium led by Saipem a $1
The deal will support Aker Solution’s commitment to meet safe and sustainable offshore operations in the most important new development in the North Sea. It is a significant win for Lloyd’s Register Consulting as Aker Solutions is one of the world’s largest providers of
Norwegian holding company Aker will pay an $8.5 million fine for insider trading in shares of a company it controls, the oil services firm Aker Solution, the holding company said on Friday. Aker, the holding company, bought the shares just days before Aker Solution sold a major subsidiary
Aker Solutions release Q1 2014 financial results and separately inform they will split into two companies to speed up a streamlining process that will reduce costs and better position all parts of the group to meet the needs of customers in an increasingly competitive global energy industry.
Bergen, Norway – May 20, 2014 – A newly established research center on Norway’s west coast hopes to improve subsea operation and maintenance by bringing risk management into real time. Integrated Well and Subsea Instrumentation (IWSI) is the latest development from
Norway’s Alu Design is set to make its Hollywood debut in the latest Transformers blockbuster, with the news that its MH OCH 300 operator chair has secured a role in Paramount Pictures’ Transformers: Age of Extinction. The seat, created for Aker Solutions in 2012
Aker Solutions says it has secured a framework agreement to provide engineering, modifications and maintenance services for BP-operated oil and gas fields offshore Norway. The contract has a period of up to two years valued at maximum NOK 1
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
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
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
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.