Aker Solutions News

Ole Martin Grimsrud (Photo: Aker Solutions)

Grimsrud Named CFO of Aker Solutions

Ole Martin Grimsrud has been appointed Chief Financial Officer of Aker Solutions, effective August 1, 2019. He replaces Svein Oskar Stoknes, who is taking over as CFO of Aker on the same day.Grimsrud joined Aker Solutions in 2012 as Vice President, Finance for the subsea business. He has held several senior management positions in the company since, most recently as Senior Vice President, Group Treasury, Controlling and Mergers & Acquisitions. He previously held various positions within finance, strategy and operations in the Norwegian industrial groups Elkem and Norske Skog. Grimsrud will

Thyssenkrupp’s MUM concept. Image from Thyssenkrupp.

Robotics: The Next Gen in Subsea Vehicles

drone concepts, which tend to rely on full recovery of the AUV or remote operated vehicle (ROV) for recharging. uSEA’s system is called uLARS (LARS meaning launch and recovery system) for underwater drones, says uSEA CEO Felipe Lima, who served in the Brazilian Navy before working at Subsea 7, Aker Solutions and Xodus Group.It’s a natural progression. Today’s AUVs are getting more and more capable and reliable, says Lima. “They are taking the space that has been the backyard of ROVs. But, they have a limitation; they rely on batteries, because they’re not cabled like ROVs

(Photo: Chevron)

Wood Wins Jansz-lo Subsea Compression FEED

by its team based in Perth.The Jansz-Io field – part of the Chevron-operated Gorgon Project, one of the world's largest natural gas developments – is located around 200 kilometers offshore the northwest coast of Western Australia at approximately 1,350 meters water depth.In March Aker Solutions, which delivered the world's first subsea compression system for Equinor's Åsgard field offshore Norway in 2015, was awarded a master contract to support the delivery of a subsea compression system, including front-end engineering and design (FEED) of a subsea compression station

(Photo: Rolf Skjong / Wintershall Dea)

Subsea Templates Installed on Nova Field

field. A new module will be lifted onto Gjøa in 2020.Subsea 7’s Seven Arctic vessel sailed the two 300-metric-ton templates 45 kilometers from the base in Florø to the Nova field, before craning the structures 370 meters below the ocean surface. The templates were constructed by Aker Solutions in Egersund on the west coast of Norway.Wintershall Dea said 65 kilometers of pipelines are now ready to be laid in preparation for the tieback.André Hesse, Wintershall Dea Nova Project Director, said, “With the installation of these two templates we have successfully begun

Johan Sverdrup Phase 2 (Image: Equinor)

Johan Sverdrup Phase 2 Plan Approved

2 subsea production system, including five templates and a total of 18 X-mas trees with associated components.Aibel, which is performing engineering, procurement and construction (EPC) of the P2 topside, on Wednesday started construction at its yard in Haugesund, Equinor said.A joint venture between Aker Solutions and Kværner will perform EPC of a utility module for the riser platform, field center modifications, and installation and hook-up activities related to the phase 2 development.Steel cut for Johan Sverdrup performed by Kjell-Børge Freiberg, Minister of Petroleum and Energy, and Aibel

Alla Weinstein, CEO, Castle Wind, a joint venture with EnBW North America.

Offshore Wind: California's New Gold Rush

with land-based connections.RCEA selected an energy team that includes Principle Power Inc. (PPI), founded in 2007 in Emeryville, CA.  PPI has developed the WindFloat, a floating foundation for offshore wind turbines, being readied for operation in Europe in 2021.  RCEA also selected Aker Solutions, the Norwegian company expert in oil and gas platforms.  RCEA’s third partner is EDPR, Portugal’s largest generator, distributor and electric supplier and the fourth largest operator of wind energy based on net installed capacity in the US.BOEM and CA Task Force officials were

(Photo: Aker Solutions)

Aker Solutions Raises 2019 Forecasts

Norway's Aker Solutions ASA raised its 2019 revenue outlook on expected higher spending on the offshore oil services and reported better than expected first-quarter profits, lifting its shares on Tuesday.The upbeat sentiment on oilfield spending is a result of record cashflows accumulated by oil companies on the back of cost-saving measures instigated since the 2014 oil slump and rising crude prices as the market has recovered.Oslo-listed Aker now expects revenue to rise by close to 10 percent in 2019, citing a strong order intake and continued high tendering activity, with its underlying core

(Photo: EC-OG)

Subsea Power Hub Tested in Aberdeen

storage and power generation to deliver energy for remote subsea architecture. The solution is engineered to provide significant CAPEX savings and revenue benefits to the operator, EC-OG saidThe recent test at Cohort company SEA’s facility in Aberdeen was completed using a third generation Aker Solutions SCM and power was delivered via a subsea distribution unit and inductive couplers, representative of a high percentage of the subsea infrastructure typically found in North Sea brownfield developments.The primary objective of the trial was to verify that the SPH could reliably supply the required

(Photo: Airborne Oil & Gas)

Aker Solutions Buys Stake in Airborne

Airborne Oil & Gas announced Friday that Aker Solutions has joined its shareholder base to further strengthen, integrate and diversify its range of thermoplastic composite pipe (TCP) solutions for the international subsea sector.The global engineering company joins other shareholders Chevron Technology Ventures, Evonik Venture Capital, Saudi Aramco Energy Ventures, Shell Ventures, Subsea 7, Sumitomo Corporation and the private equity investor, HPE Growth Capital.Oliver Kassam, Airborne Oil & Gas CEO said,  “We have a very strong portfolio of organizations invested in the business

(Image: Aker Solutions)

Chevron to Use Subsea Compression at Jansz-Io

Aker Solutions announced Tuesday it has been awarded a master contract to support the delivery of a subsea compression system for the Chevron Australia-operated Jansz-Io field offshore Australia, marking the first time the technology will be used outside of Norway.Compression helps to maintain plateau gas production rates as reservoir pressure drops over time, but such compressors have typically been installed on platforms over sea level. Placing this equipment on the seabed and near the wellheads improves recovery rates and reduces capital and operating costs, Aker Solutions said.The first

Luis Araujo, CEO, Aker Solutions

Aker Solutions Revenues Up 8%

Aker Solutions reports Q4 2018 revenue of $813 million, an 8% rise compared to Q4 2017 powered by “significant international awards in a competitive, but improving market.” In total, order intake for the quarter was $615.6 million, leaving the company with an order backlog of more than $4 billion. Better still, looking forward the company sees “continued signs of a recovery in the global market” with approximately $5.2 billion worth of contracts currently in the bid phase.In analyzing the results, executives credit an improving market in step with its own “investments in

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