Resilient Market Spurs Aker Solutions's Earnings
earlier.Aker Solutions has two reporting segments: projects and services. Revenue in projects rose to NOK 4.2 billion in the quarter from NOK 4.1 billion a year earlier, lifted by increased North Sea modifications work, good progress on international projects and work secured through the acquisition of Reinertsen last year. The EBITDA margin widened to 7.6 percent in the quarter from 6.6 percent a year earlier. Revenue in services rose to NOK 1.2 billion in the quarter from NOK 1.1 billion a year earlier, helped by higher volumes in Asia Pacific, Canada and Brazil. The EBITDA margin was 11.7 percent in
Aker Solutions Completes Reinertsen Acquisition
Aker Solutions has completed the acquisition of oil-services provider Reinertsen, building on its position as maintenance and modifications supplier offshore Norway. The purchase price is NOK 212.5 million (roughly $25 million). The agreement to buy Reinertsen's Norwegian oil and gas services business, announced on March 30, has also been cleared by Norway's competition authority.
Aker Solutions to Acquire Reinertsen
Aker Solutions said it has agreed to buy oil-services provider Reinertsen in an asset deal set to be concluded in the second quarter, giving Aker Solutions ownership of Reinertsen's Norwegian oil and gas services business. The purchase price is NOK 212.5 million (roughly $25 million). The agreement excludes Reinertsen's liabilities as of December 19, 2016, when the company went into debt negotiation proceedings. Reinertsen, the third-largest maintenance and modifications supplier offshore Norway with about 700 employees, has its main offices in Trondheim and Bergen, where Aker
Samsung Bags Order for Decks on Johan Sverdrup
to the whole of society for at least 50 years into the future. We now have in place a broad and strong team in the supplier industry to construct the decks for the four platforms. This provides the most optimal conditions for project delivery in terms of quality, time and cost," says Øivind Reinertsen, project director of Johan Sverdrup field development. Facts Johan Sverdrup The investment costs for phase 1 of the Johan Sverdrup development are estimated at some NOK 117 billion NOK (2015 value). Recoverable resources are projected at between 1.4 and 2.4 billion barrels of oil equivalent
Statoil Awards Johan Sverdrup Drilling Contracts
, Technology, Projects and Drilling. “The Deepsea Atlantic rig will drill minimum 13 pilot wells on the field prior to production start from Johan Sverdrup in late 2019. This enables us to utilise the production capacity from Johan Sverdrup as efficiently as possible,” says Øivind Reinertsen, senior vice president for the Johan Sverdrup field. Statoil has also signed a contract with Odfjell Drilling for drilling services on the fixed drilling unit on the Johan Sverdrup field complex starting in December 2018. This contract has an estimated value of NOK 1.85 billion, and a duration
MTR100: The Norway Way
- Managing Director Number of employees: 50 OneSubsea Sandslikroken 140, PO Box 174, Sandsli, Norway, N-5862 Phone: 47 55 92 88 00 Web: onesubsea.com Leadership: Scott Rowe - CEO Number of employees: 6,000+ Reinersten AS Leiv Eiriksson Senter, 7010 Trondheim, Norway Email: [email protected] Phone: 47 815 52 100 Web: reinertsen.com Leadership: Torkild R. Reinertsen (chairman) and Erik R. Reinertsen CEO) - owners Number of Employees: 2,700+ Statoil ASA Forusbeen 50, 4035 Stavanger, Norway Email: [email protected] Phone: 47 51 99 00 00 Web: statoil.com Leadership: Helge
Johan Sverdrup Field Concept Selected
per day field capacity (Statoil share ~40%) with an expected production between 315,000 and 380,000 boe/d in the early phase. Pre-drilling of wells will contribute to a rapid production ramp-up. “The ambition is a recovery rate of 70% for the full field,” says Øivind Reinertsen, senior vice president of the Johan Sverdrup field. Investments in the first phase are estimated at between NOK 100-120 billion. These include the field centre, wells, export solutions for oil and gas, and power supply. The estimates also include contingencies and provisions for market
February 2024
