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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 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 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 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 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 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 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 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 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


Saipem wins $520m offshore contracts in Congo, Indonesia

(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


LR Awarded O&G Consulting Contract

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


Wärtsilä’s VIEC Ordered in Three North Sea Oilfields

Wärtsilä Vessel Internal Electrostatic Coalescer

Wärtsilä has signed three contracts with Aker Midsund of Norway to deliver its Vessel Internal Electrostatic Coalescer (VIEC) systems for three North Sea oilfields. The system enhances the speed and efficiency of the separation process of oil and water onboard in an environmentally safe


Aker Fined $8.5M for Insider Trading

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


Matson, Aker Ink Shipbuilding Deal

Artists Depiction of 3,600 TEU containerships

Matson Signs Contract With Aker Philadelphia Shipyard For Two New "Aloha Class" Containerships, First Ship To Be Named The Daniel K. Inouye. Matson, Inc., a U.S. carrier in the Pacific, announced today that its subsidiary, Matson Navigation Company, Inc


Statoil Extends Aker Maintenance ContractTwo Years

Aker Solutions ASA secured a two-year option agreement extension valued at NOK 3 billion from Statoil ASA to provide maintenance and modifications work offshore Norway. The option is part of a 2010 framework agreement to provide maintenance and modifications work on the Statoil-operated


Companies Offered 6% Share of Aker Solutions

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Aker ASA has engaged ABG Sundal Collier Norge ASA and Arctic Securities ASA to explore the opportunity to acquire approximately 16.5 million shares (roughly 6% of the share capital) in Aker Solutions ASA, but with the possibility for Aker ASA at its full discretion to increase or decrease the


Aker Solutions Bullish on Future Financial Returns

Image courtesy of Aker Solutions

On its capital markets day, Aker Solutions' Executive Chairman Øyvind Eriksen says: "While we will continue to build Aker Solutions, the focus on topline growth will be toned down and more attention will be paid to growing our profit and share price


Finland Takes Majority Stake in Aker Arctic Technology Inc.

A Finland government owned investment company, Finnish Industry Investment Ltd, has today purchased a 66.4 per cent majority stake of the shares of Aker Arctic Technology Oy (Aker Arctic) from STX Finland Oy. Aker explain that In recent months the Ministry of Employment and the Economy has been


Aker Starts Building First Product Tanker for Crowley

Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), began production activities today on the first product tanker that it is building for its joint venture with Crowley. Crowley and APSI have signed contracts for the first four


Aker Appoint David Currie UK Regional President

David Currier: Photo courtesy of Aker Solutions

Aker Solutions says that since 2011 it has established regional structures in Brazil, North America, Norway and now the UK to bolster its presence and build stronger relations with key customers. Currie comes from FMC Technologies, where he has since 1985 held various positions


Aker Completes Well-intervention Services Business Sale

Image courtesy of Aker Solutions

Aker Solutions says it has completed the sale of its well-intervention services business area to EQT, a Swedish private equity fund. The unit was sold for an enterprise value of NOK 4 billion and the agreement includes an earn-out provision where Aker Solutions will receive 25 percent of any


Board Changes at Aker Arctic Technology

After the acquisition of 66.4% of the shares by Finnish Industry Investment Ltd (fully owned by the State of Finland) Aker Arctic Technology Inc.’s extraordinary shareholders’ meeting today appointed the new Board of Directors for the company.


Aker Solutions Holds Its Own in Q4 2013

Image courtesy of Aker

Financial Highlights in the fourth quarter of year 2013 were as follows: Sales were NOK 11.4 billion in the fourth quarter of 2013, up from NOK 11.2 in the fourth quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1


Aker Shipyard Provides Clarification on Crane Incident

file photo: Aker Shipyard, Philadelphia

Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (AKPS) has released an update regarding an incident that occurred yesterday at its facility. According to Aker, numerous factually incorrect news reports have emerged


 
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