Upstream Oil And Gas Projects News

Norway's Aker Solutions has forged an alliance with the German technology giant Siemens to further develop digital offerings in engineering, operations and services.The global engineering company based in Oslo said that the collaboration focuses on the creation of software applications and joint service offerings including the development of industrial digital twins that will drive efficiency throughout the entire plant lifecycle.In addition, the companies will further develop specific offerings for the oil and gas sector based on Siemens' Comos engineering platform. These solutions will help customers to reduce engineering and operational cost and enable improved decision making…

Sovcomflot is one of the world’s leaders in energy shipping as well as in servicing offshore upstream oil and gas projects. It has reported lower time charter equivalent revenue (TCE) of USD 1,142.2 million (2015: USD 1,240.1 million), EBITDA of USD 706.5 million (2015: USD 780.1 million) and net profit of USD 206.8 million (2015: USD 354.5 million). Sergey Frank, President and CEO of Sovcomflot said: “Sovcomflot has delivered a solid set of results for 2016, despite market volatility in a year that has severely tested our industry. Sovcomflot strengthened its position as the World’s largest harsh environment tanker operator through the opportune acquisition of nine well-maintained tankers that became available as part of the PRISCO bankruptcy proceedings, he said.

Aker Kvaerner Offshore Partner, headquartered in Aberdeen, is to open a satellite office in Stockton-on-Tees, UK. The office will be responsible for a range of upstream oil and gas projects, and modification work. The office is located within the existing Aker Kvaerner premises at Ashmore House, Stockton-on-Tees and will be operational from January 2006. "In addition to servicing work arising from current and future clients, Aker Kvaerner intends to develop the office as a center of engineering excellence to execute cross-border work for our Norwegian sister companies and clients," said Richard Strachan, operations director with Aker Kvaerner Offshore Partner Ltd. Based in Stockton for more than 100 years, Aker Kvaerner has a long-standing commitment to the Teesside area.