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Aker Kvaerner Awarded Drilling Equipment Contract

Aker Kvaerner has been awarded a contract with Daewoo Shipbuilding & Marine Engineering Co Ltd in South Korea for delivery of drilling facilities for an ultra deepwater semi submersible drilling rig ordered by an international drilling contractor. The total contract value for Aker Kvaerner is approximately USD 86 million. The award is based on an option included in a contract Aker Kvaerner signed with Daewoo Shipbuilding & Marine Engineering Co. Ltd in February 2006. The work is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand. The scope of work for Aker Kvaerner MH is to deliver a complete drilling package including engineering, equipment deliveries and commissioning services. The ultra deepwater semi-submersible drilling rig is scheduled for delivery in 2009. The drilling rig will be designed for world-wide operation in harsh environment, including operation on the Norwegian continental shelf.

Aker Kvaerner to Deliver Loading Systems

Aker Kvaerner has recently been awarded several contracts for delivery of advanced loading and offloading systems. One of these contracts comprise the delivery of an advanced offshore offloading system to Lukoil's Varandey platform located at the Peninsula Coast of the Barents Sea. The work is undertaken by the Aker Kvaerner subsidiary Aker Kvaerner Pusnes in Arendal. The offfloading system is designed for extreme low temperature conditions and is the second contract of its kind

Aker Kvaerner Awarded Drilling Equipment Contract

Aker Kvaerner has been awarded a contract with Neptune Marine & Drilling Pte Ltd in Singapore for delivery of a drilling equipment to the Neptune Explorer drillship. The total contract value for Aker Kvaerner is approximately $23m. "This contract which consists of derrick drill floor equipment and motion compensation are based on Aker Kvaerner MH's standard drilling equipment. This contract with Neptun is our latest project that will benefit from standardisation of our drilling equipment

Aker Kvaerner Awarded Drilling Equipment Contracts

Aker Kvaerner has been awarded two drilling equipment contracts by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) in Korea; one for a single drillship, the other one for a semi rig. The total contract value for Aker Kvaerner is approximately $213m. The scope of work for both contracts is to deliver complete drilling equipment packages including installation and commissioning supervision. The contracts will be executed by the Aker Kvaerner subsidiary

Aker Yards Signs $100M Contract

Aker Yards has signed a contract worth approximately NOK 650 million to build a Well Intervention Vessel for Island Offshore. The vessel will be delivered in January 2008. Main duties for the new vessel of Rolls Royce design, will be maintenance and repair of oil-/gaswells in deeps of as far as 600 meters, and operate with a riserless wireline intervention system. The vessel will operate an ROV, (remote operated vehicle), for operations on the sea bed

Aker Yards and MSC Signed Cruise Ship Contract

Aker Yards has signed a contract with MSC Cruises to build a 4th MSC Musica Class Cruise ship. The MSC Magnifica will be built at Aker Yards, Saint-Nazaire and delivered in 2010. The value of the contract is approximately $546.8m (EUR 410 million.) The contract is subject to financing. Like its three predecessors (MSC Musica, MSC Orchestra and MSC Poesia, this 89,600 GT cruise ship is 294 metres long and just over 32 metres wide, and complies with the Panama Canal Standard

Aker Yards to build Four for Farstad

Aker Yards has entered into a contract with Farstad Shipping ASA for building of four AHTS Vessels with a value of approx $321m. The vessels to be built are 87.4 m x 21 m Multifunctional Deep Water Anchor Handling/Tug/Supply/Service Vessels, based on the Rolls-Royce design; UT 731 CD. The Vessels are scheduled for delivery from Aker Yards, Langsten in the second and third quarter of 2009, and the first and second quarter of 2010

Aker Kvaerner Awarded Contract

Aker Kvaerner has been awarded a contract with Discoverer Invest Ltd in Singapore for delivery of drilling systems and equipment to a Frigstad D90 ultra deepwater semi-submersible drilling rig. The total contract value for Aker Kvaerner is approximately NOK 450 million. The drilling package will consist of a dual version of the RamRig, an advanced drilling system developed by Aker Kvaerner. This system is designed to enable more efficient drilling operations compared with conventional systems

Aker Kvaerner Signs Subsea Contract

Aker Kvaerner has been awarded its first subsea contract from Spanish oil company Repsol YPF. The deal is for the delivery of a subsea production system to the Montanzo and Lubina projects off the east coast of Spain. This is Aker Kvaerner's first subsea project in the region. Contract value is undisclosed. Scope of work includes engineering, procurement and construction of two subsea trees with control systems, connections and overtrawlable structures

Aker Kvaerner Wins Blind Faith Contract

Chevron with partner Kerr-McGee has awarded Aker Kvaerner a contract for marine operations for installation of the Blind Faith platform in the Gulf of Mexico. The contract value is estimated to approximately $35 million. The new contract will be executed by the Aker Kvaerner company Aker Marine Contractors, and includes installation of a mooring system, topside transport, transportation and installation of the Blind Faith semisubmersible platform as well as hook up of the risers of the

Aker ASA Equity Holdings Restructured

Aker Philadelphia Shipyard

  Aker ASA has on 30 September 2015 transferred its equity holdings in Converto Capital Fund AS to Aker Capital AS, a wholly-owned subsidiary of Aker. As per 30 September 2015, Converto Capital Fund AS directly held 7,237,631 of the issued shares and votes in Aker Philadelphia Shipyard ASA

GC Hidromek, Aker JV to Develop Dredgers

  GC  “Hidromek”  (Russia) and Aker Arctic (Finland) have signed the strategic partnership agreement  at NEVA 2015 GC “Hydromech” (Russia) Inc and Aker Arctic (Finland) signed an agreement on strategic partnership at the NEVA 2015 International

Aker to Sell Product Tanker JV Interest

Aker Philadelphia Shipyard

  Aker Philadelphia Shipyard ASA announced today that its wholly-owned U.S. subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has entered into definitive agreements with a subsidiary of Marathon Petroleum Corporation (MPC) for the buy-out of APSI's interest in its joint venture with

Aframax Tanker Designed for Arctic Shipping

Aframax tanker in-ice- Aker Arctic

A modern Aframax-sized tanker concept designed for transporting crude oil and oil product in the Arctic has been developed via collaboration between Deltamarin Ltd. and Aker Arctic Technology Inc.  In creating the new tanker concept, Deltamarin said it drew upon its expertise in affordable

Kinder Morgan Buys Four Newbuilding Resales

Photo Aker Philadelphia Shipyard

  Kinder Morgan, Inc. is expanding its growing fleet of Jones Act product tankers having signed a definitive agreement valued at an all-in price of $568 million with Philly Tankers LLC to take assignment of contracts for the construction of four, new 50,000-deadweight-ton

Aker Philadelphia Shipyard is Philly Shipyard Now

Photo by Aker Philadelphia Shipyard Inc

 Aker Philadelphia Shipyard ASA announces its plan to change its name to Philly Shipyard ASA, pending an upcoming shareholder vote at an extraordinary general meeting expected to take place in October 2015. Aker Philadelphia Shipyard, Inc

Røkke is CEO of Akastor ASA

Kristian Rokke

Akastor ASA announced that its Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Mr. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. Kristian Røkke

Aker Solutions Revenue Steady


Sales NOK 8 billion in 2Q 2015 vs NOK 8.1 billion in 2Q 2014 Earnings before interest, taxes, depreciation and amortization (EBITDA) NOK 547 million vs NOK 608 million a year earlier EBITDA margin 6.8% vs 7.5% a year earlier EBITDA margin ex. one-off items 7.6% vs 7.5% a year earlier

Fjords Processing Bags Johan Sverdrup Contracts

Johan Sverdrup tendering. Photo Statoil

  Fjords Processing, headquartered in Norway (Fornebu), has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea. The contracts were signed with Statoil on behalf of the Johan Sverdrup license

Aker Philadelphia Appoints New CFO

Photo: Aker Philadelphia Shipyard

  Aker Philadelphia Shipyard ASA has appointed Jan Ivar Nielsen as Chief Financial Officer effective September 2015. Since 2009, Nielsen has held the position of CFO of VARD Holdings, a publicly listed global designer and builder of offshore and specialized vessels with 10 facilities

Aker Solutions Wins Offshore Mexico Order

Courtesy Aker Solutions

  Aker Solutions won its first order for a project offshore Mexico as it secured a contract from Saipem to supply umbilicals for the Pemex-operated Lakach deepwater natural-gas field. Aker Solutions will deliver electro-hydraulic steel tube umbilicals of about 73 kilometers (45 miles)

CFO Theisen Quits Aker Philadelphia

Jeffrey Theisen

  Aker Philadelphia Shipyard ASA announced today that its Chief Financial Officer, Jeffrey Theisen, is resigning from his position later this month to pursue other career opportunities outside of shipbuilding and shipping. Art Whittemore, who was previously CFO of Gamesa USA

Aker Arctic Acquires Canada’s Akac

Photo: Aker Arctic

Aker Arctic Technology Inc has acquired full ownership of Canadian based company Akac Inc, which is known in the oil and gas industry for its involvement in the Arctic offshore projects and operations.   According to Aker Arctic Technology

Bids Placed for Novy Port Icebreaker Contract

ARC 130 A icebreaker (Source: IAA PortNews)

Seven companies submit bids for contract for Yamal Novy Port terminal icebreaker   The tendering process for the Yamal Novy Port terminal icebreaker design and build contract has kicked off, seeing seven companies submit bids for the project, IAA PortNews reported.  

AVEVA, Aker Solutions Ink Deal for AVEVA Everything3D

Aker Solutions selected AVEVA Everything 3D to be its strategic 3D tool on plant design, modification and maintenance projects.

  AVEVA establishes long-term partnership with Aker Solutions for the use of AVEVA Everything3D as a core part of the company’s strategic design platform Cambridge, UK: AVEVA today announced that it has entered a multiyear agreement with Aker Solutions for AVEVA Everything3D (AVEVA

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