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

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

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