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Aker Solution News

13 Aug 2018

Global FPSO Market to Exceed USD 115 bln by 2024.

Global FPSO Market is anticipated to witness growth of 19% and exceed USD 115 billion by 2024. Rising demand of hydrocarbons and increase drilling activities for exploration and production will drive the industry growth.Increase in the conversion of vessel to FPSO to augment the productivity and minimize the capital expenditure may complement the business growth, said a report from Global Market Insights.Converted FPSO market is witnessed to grow over 18%. Comparison with new built, converted FPSO requires low capital cost that drives the business growth.Reduced project execution timeline will increase the redeployed FPSO market share with a valuation over USD 700 million in 2015 followed by the expansion rate of over 22% by 2024.

26 May 2014

Alu Design Operator Chair Lands Star Role In 'Transformers: Age of Extinction'

Norway’s Alu Design is set to make its Hollywood debut in the latest Transformers blockbuster, with the news that its MH OCH 300 operator chair has secured a role in Paramount Pictures’ Transformers: Age of Extinction. The seat, created for Aker Solutions in 2012, will now be seen “at the heart” of the film’s set design, starring alongside actors such as Mark Wahlberg, Kesley Grammer and Stanley Tucci. It’s a bewildering development for Kristiansand-based Alu Design, a market leader in the design and manufacture of advanced pilot chairs and deck rails. The firm created the chair to offer new ergonomic and user-friendly standards for operators working in the restricted space of Drillers Cabins on offshore rigs… not for science fiction action films.

11 Apr 2014

Shell drops Norwegian subsea gas project

Royal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production. Shell said on Friday it would postpone a project to provide subsea compression at the North Sea's Ormen Lange, the second-biggest Norwegian gas field, despite the objections of a key license partner. The decision will not be re-evaluated for several years, until new technology and reservoir information become available, Shell said. Costs have soared in Norway's vast offshore oil sector over the past decade, and oil firms are cancelling or delaying major developments to save on costs and earn more cash for dividends.

04 Apr 2014

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, it said. Aker Solution shares rose after the deal, and the holding company profited from the gain. "This is a case of good intentions, bad execution," said billionaire Kjell Inge Røkke, the biggest shareholder in both companies. "Aker has concluded that it is sensible to reach an agreement ... Aker said it had insider information about the sale of the subsidiary but went ahead with a total return swap agreement involving 1.5 million Aker Solutions shares.

04 Mar 2014

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 products, systems and services to the oil and gas industry. In combination with risk analysis expertise from Lloyd’s Register Consulting, Aker Solutions is bringing together the best engineering and technologies for oil and gas drilling, field development and production in the North Sea for the front-end engineering design (FEED) phase. “The geographical scope of the Johan Sverdrup field is estimated to hold between 1.8 billion and 2.9 billion barrels of oil…

24 Jun 2013

Finnish Shipbuilding and Arctic Operations

The first of two Arctic offshore supply vessels for Russia’s SCF Group was recently delivered by Arctech Helsinki Shipyard

The STX Turku Shipyard in Finland recently lost the order for a third Oasis class cruise ship and an option for a fourth to ”sister” shipyard STX France, when neither the owner, the financially troubled STX Group, nor the Finnish government wanted to inject a missing $64.3m to the capital of the shipyard. The yard is currently building two 97,000gt cruise ships for TUI Cruises. In January the shipyard delivered the world’s first LNG-fuelled big size passenger-car ferry, the Viking Grace for Baltic ferry operator Viking Line.

07 Jun 2013

Attracting Maritime Talent, Norwegian Style

Ocean Talent Expo: Image courtesy of Nor-Shipping

Thousands of students are flocking to 'Ocean Talent Camp' in Oslo every day to get a taste of the most exciting ocean Industry careers. Located at Rådhusplassen (City Hall Square) in Oslo, the camp gives students the chance to talk to people who work in professions they are interested in, whether they are navigators, engineers, geoscientists or production managers. This Norwegian recruitment drive builds on the success of a similar 2011 initiative, Nor-Shipping Campus. But while that campaign focused on the shipping industry only…

25 Mar 2010

Aker Solutions Power Cable Installation Contract

Aker Solution' marine operations unit has entered into a long-term agreement with ABB regarding installation of power cables and related services. ABB will charter one of Aker Solutions' new vessels for installation campaigns during 2012 and 2013. Aker Solutions estimates that this can generate revenues up to $82.3m. The agreement also includes options for further campaigns in the period 2014 - 2016. Key deliverables from Aker Soutions will in addition to the vessel include project management, engineering and offshore execution. The vessel is a state-of-the-art installation vessel uniquely equipped to install long, heavy power cables and subsea umbilicals. It is one of Aker Solutions' vessels already under construction.