Aker Solutions Boosting Subsea Capacity

press release
Friday, April 20, 2012

International oil service group Aker Solutions is preparing for major growth by investing NOK 500 million (USD 87 million) in its subsea business.


This investment is set to double the capacity of its manufacturing plants in Tranby, Norway, and Port Klang, Malaysia. In addition, a new service base will also be established in Malaysia. The subsea segment of the oil and gas industry is growing rapidly and is expected to develop exponentially over the next few years. Of Aker Solutions' 23 500 employees almost 7000 are employed within the subsea business, a number which is set to increase due to this expansion. 
These planned investments are a response to a wave of existing orders and recognition of the growing market demand. Aker Solutions ability to serve its current and future clients will be improved and this development will facilitate market share growth within subsea production technologies, including subsea trees, control systems, pumps and work-over systems.

The investments include the addition of brand new machines and a physical expansion of the facilities in Port Klang, Malaysia, and Tranby, Norway. The new service base in Malaysia will support projects in the Asia-Pacific region.
"The subsea market has strong fundamentals and this steady growth is expected to continue. We are now preparing for expansion in all markets and regions and these investments give us great momentum. They will also increase our capability to serve our clients and our ability as their preferred partner", says Alan Brunnen, executive vice president of Aker Solutions' subsea business area.

Approximately 80 percent of the investments will be made this year, including the purchase of new machines, equipment and tooling. The remaining investments will continue throughout 2013 and 2014. In the past, Aker Solutions has invested heavily in Malaysia, which is their deepwater hub in the Asia Pacific region. This includes the company's manufacturing centre in Port Klang close to Kuala Lumpur which employs close to 800 people and a 600-strong front-end, design and engineering hub in Kuala Lumpur.

The Tranby facility outside of Oslo, is growing rapidly and employs 630 people, acting as the centre of excellence for Aker Solutions' subsea operations. The new service base in Labuan Federal Territory in East Malaysia will support the installed and future deepwater projects in the Asia Pacific region and will open in July this year. Aker Solutions has two other subsea service bases in the Asia Pacific region; one is located in Perth, Australia, and the other in Kakinada, India.

Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

US Shipowner Creates Fund for Families of Missing El Faro Crew

The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family

Coast Guard Foundation Raises $250,000 for Scholarships

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Newport News Shipbuilding Converts to Natural Gas

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C,


US Senators Introduce Bill to Limit Offshore Drilling

A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington.

Danish-South Korean Co-operation Strengthened

The Danish-South Korean Green Growth Alliance met for roundtable talks yesterday. The Minister for Business and Growth's meeting with the South Korean Minister

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more


House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama,

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

House Expected to Pass Bill Axing US Oil Export Ban

A bill to repeal the U.S. oil export ban was expected to pass the House of Representatives on Friday, but faces an uncertain future after a veto threat by President Barack Obama.

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3913 sec (3 req/sec)