Modifications Services News

Petrobras has awarded Aker Solutions a contract to provide maintenance and modifications services for nine platforms at oil and gas fields in the Campos Basin offshore Brazil.The Campos Basin extends approximately 100,000 square kilometers. The three-year contract is valued at more than BRL 250 million and includes an option for a two-year extension.Aker Solutions will be renovating, repairing and upgrading offshore production units for Petrobras' Campos Basin Operational Unit (UO-BC). The contract will also allow Aker Solutions to demonstrate its value as a full-service provider, and manage the yard where replacement parts and other equipment will be fabricated."We are pleased to expand our business in Brazil…

Norwegian oilfield services company Aker Solutions has won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil. The four-year contract is valued at about NOK 800 million ($101.5 million) and includes an option for a one-year extension. The order covers a range of services to renovate, repair and upgrade the floating production storage and offloading platforms, or FPSOs, at the Barracuda, Caratinga and Albacora Leste fields in the Campos Basin. It also entails management at the yard where replacement parts and other equipment will be fabricated. "Brazil is an important global market and growth area for servicing oil and gas fields," said Aker Solutions Chief Executive Officer Luis Araujo.

The engineering group Monadelphous has won a $200 million Shell Australia contract on its Prelude floating LNG project off the Kimberley coast. The contract is for major, long-term maintenance and modifications services for the Prelude Floating Liquefied Natural Gas (FLNG) project in Browse Basin, 475km northeast of Broome in Western Australia. Monadelphous will provide maintenance, brownfield modifications and turnaround services to the LNG process plant, support utilities, hull and non-process infrastructure including accommodation and control rooms. The contract also includes the delivery of fabrication services from Darwin in support of offshore operations. The contract is for an initial seven years with a further two, 2 year extension options.

Aker Solutions secured a contract from Daewoo Shipbuilding and Marine Engineering to provide engineering, construction and commissioning services for the hook-up phase of the Mariner oilfield development in the UK North Sea. The agreement is worth more than GBP 120 million. It comes in addition to a five-year maintenance and modifications services contract awarded in June by Statoil for the Mariner field, which is set to start production in 2017. "We are very pleased to be expanding our already significant role in developing the Mariner field and to be working with Daewoo and Statoil," said Tore Sjursen, head of Aker Solutions' maintenance, modifications and operations (MMO) business.

Aker Solutions today started trading on the Oslo stock exchange as a leaner and more streamlined company that will build on its strengths in the subsea and field design markets. The company emerges after a spin-off of the Subsea, Umbilicals, Engineering and Maintenance, Modifications and Operations (MMO) businesses of the former Aker Solutions, which has been split into two separate entities to reduce complexity, realize synergies and bring down costs. The other company formed in the separation is Akastor, an oilfield services investment business that will develop the former group's other units, including Drilling Technologies. "The…

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. The company is acting proactively to ease overcapacity in its Norwegian MMO business, which is being affected by lower demand as oil companies reduce spending plans. About 100 MMO engineers will be moved to a subsea hub that's being established in Stavanger to support and ensure flawless execution of Aker Solutions' significant order backlog. Aker Solutions is also offering about 130 employees a transfer to Aker Advantage, which will endeavour to find jobs inside or outside the group.

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 1.06 billion in the quarter, compared with NOK 1.09 billion in the year-earlier period. The prior-year figure includes a gain of NOK 160 million from the sale of real estate. The EBITDA margin was 9.3 percent in the quarter versus 9.7 percent a year earlier. The prior-year margin was 8.4 percent excluding the sales gain.

HB Rentals, a supplier of temporary onshore and offshore accommodation modules, said it expects strong growth after completing a custom build project for Wood Group PSN. The project believed to be worth in excess of £1,000,000 involved the firm designing, engineering and manufacturing a complex consisting of three separate modules that connect to produce a single living and work space on the Arbroath platform, central North Sea. HB Rentals Eastern Hemisphere business director…

ExxonMobil Exploration and Production Norway AS has exercised a two year option in its term contract with Aker Kvaerner in Stavanger, Norway. The contract covers all ExxonMobil operated assets in the Norwegian Continental Shelf. "By exercising this option ExxonMobil show their satisfaction of the services Aker Kvaerner is delivering under this long term service agreement. We are very proud of being ExxonMobil's preferred supplier and that they recognise our company and our services as value adding to their operations", says Tore Sjursen, President of Aker Kvaerner Offshore Partner in Norway. Aker Kvaerner was awarded the Esso Broad Scope Services Agreement (BSSA) in 1998…