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 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
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 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 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
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 today laid the foundation stone of a new plant in Paraná that will double the company's subsea production capacity in Brazil. The plant in the city of São José dos Pinhais in the Paraná state in Brazil will be operational in 2015
Aker Solutions has laid the foundation stone of a new plant in Paraná that will double the company's subsea production capacity in Brazil. The plant in the city of São José dos Pinhais in the Paraná state in Brazil will be operational in 2015
The U.K. operation of international oil services group Aker Solutions has announced the appointment of a new vice president to lead greenfield projects as the company looks to expand its capabilities in the sector. Bob Shaw’s appointment is the latest in a series of new senior management
Aker Solutions awarded contract for offshore engineering services to support Husky Energy at White Rose field. The scope of work includes studies, modifications (EPCI) and campaign maintenance services. The duration is five years with an option to extend the contract for as many as 10 one-year
Aker Solutions' subsidiary, Managed Pressure Operations, won a prize for its riser safety system at the Offshore Technology Conference in Houston. The Aker Solutions unit won the Woelfel Best Mechanical Engineering Achievement Award for its Riser Safety System (RSS).
Aker ASA entered a TRS (Total Return Swap) agreement with exposure to 1,500,000 shares in Aker Solutions ASA. The expiration date of the TRS agreement is November 1, 2013 and the settlement price in the agreement is NOK 83.717325 share.
"The slow start to 2013 is truly disappointing," says Øyvind Eriksen, Executive Chairman of Aker Solutions ASA. Aker Solutions decided to disclose preliminary information on its financial performance in the first three months of 2013 as the results so far considerably lag current
MAN Diesel & Turbo, Switzerland, signs to provide Norway's Statoil with new subsea compressor equipment & maintenance services. The Zurich-based MAN Diesel & Turbo Schweiz AG and Statoil have followed a joint subsea compressor qualification programme since 2005
Aker Solutions has entered a frame agreement with Petrobras to provide subsea equipment for the oil company's deepwater pre-salt field developments in Brazil. The contract value is approximately $800 million (USD). The scope of work is for 60 well-sets with vertical subsea
Aker Solutions received a Letter of Award from Total for the delivery of a subsea production system for the Moho Nord project in the Republic of the Congo. The contract value is approximately $850 million (U.S.). The Moho Nord project
Aker Solutions signed a contract with ExxonMobil for the supply of subsea umbilicals for the Erha North phase two development in Nigeria. The Erha North phase two development is an extension of the existing Erha subsea system and infrastructure located approximately 97 kilometers offshore
Aker Solutions secures a NOK 650 million (GBP 70 million) contract with BP to help redevelop one of the largest oil fields in the UK sector. The Aberdeen operation of Aker Solutions will manufacture and supply all subsea controls equipment for the Quad 204 project
Aker Solutions, the international oil services provider, has been awarded a frame agreement with Statoil for the delivery of subsea operations and services on the Norwegian continental shelf. Subsea operations and services covers installation of subsea equipment, maintenance
Aker Solutions acquires managed pressure drilling specialist Managed Pressure Operations (MPO). Managed Pressure Operations International, Ltd. (MPO) is a company that has successfully developed the next generation of continuous circulation, riser gas handling and managed pressure drilling systems
Statoil with Total & Det Norske contract DSME to build the topsides for the Dagny platform, with Aker Solutions as a major sub-contractor. The total contract value is estimated to be NOK 6.1 billion and comprises detailed design, procurement, engineering services, construction