Aker Solutions News

Photo: Aker Solutions

Aker Solutions CEO Expects Brazil Revenue to Double Within 5 yrs

The chief executive of Norwegian oil services firm Aker Solutions said on Tuesday he sees big growth potential from its Brazilian business and from scaling up its exposure to floating offshore windfarms."I expect Brazil in five years to be at least twice where it is today for us ... in terms of revenues," Luis Araujo told Reuters in an interview."We believe that floating wind is where we can use our capabilities," he said, adding this would be through scaling up operations of Californian company Principle Power, in which Aker Solutions owns 10 percent with an option to increase.

(Image: Norway Royal Salmon)

Arctic Offshore Salmon Farm to Come Online in Late 2020

this year to produce up to 5,990 tonnes of salmon under the Arctic Offshore Farming initiative which involves the use of semi-submersible offshore fish farms built for harsh conditions.Hoestlund said model testing in France of the Arctic Offshore Farming concept, supported by oil services firm Aker Solutions, had produced very good results and the facility could easily handle 15 meter waves while the requirement is only 6.5 meters.Norway, already the world biggest producer, is looking to bolster output.Norway Royal Salmon's plans target output of 70,000 tonnes of salmon a year, or near double

Photo: Equinor

Aker Solutions Bags Work On Johan Sverdrup Offshore Norway

Aker Solutions has, in collaboration with Kvaerner, secured additional hook-up and commissioning work for Equinor's Johan Sverdrup field offshore Norway.Equinor has exercised an option in the Johan Sverdrup Riser platform hook-up contract  awarded in January 2017 for Aker Solutions to perform hook-up and commissioning assistance of the field's utility and living quarter platform, as well as the preparatory offshore work connected with the phase two modifications of the riser platform."We are delivering well and on schedule on the hook-up work that we are currently performing on the

(Photo: Aker Solutions)

Aker Solutions to Supply Umbilicals for Liuhua FPSO

Aker Solutions said it has been contracted to deliver power umbilical systems to China National Offshore Oil Corporation's (CNOOC) Liuhua oil fields in the South China Sea, off Hong Kong.The order, which is said to be worth more than NOK 350 million ($36.6 million), was booked in the third quarter of 2018. The work scope includes more than 35 kilometers of dynamic and static power umbilicals for the Liuhua 16-2, 20-2 and 21-2 fields, linking the subsea development to a new floating production, storage and offloading (FPSO) unit.Power umbilical systems are bundled cable and fiber optic systems

Photo: Aker Solutions

California Offshore Wind Project Progresing

Northern California energy authority RCEA and a consortium of private companies, including Aker Solutions and Principle Power, have submitted a lease application to advance the first commercial scale project for floating offshore wind in the United States.The application for the offshore wind energy development off the coast of Humboldt county in Northern California has been submitted to the Bureau of Ocean Energy Management (BOEM).In April this year, the Redwood Coast Energy Authority (RCEA) selected a consortium which includes Aker Solutions, Principle Power and EDPR Offshore to enter into a public-pr

(Image: Aker Solutions)

Aker Solutions to Supply Subsea Production System for Mero 1

Aker Solutions said it has secured an order from Petrobras to provide a subsea production system and related services for the Mero 1 project, the first full production project within the major Mero field development, one of the largest oil discoveries in Brazil's pre-salt area.The ultra-deepwater Mero field is located in the northwestern area of the original Libra block, which is about 180 kilometers south of Rio de Janeiro. First oil was produced in November last year.Petrobras is the operator of the consortium developing the Libra area. Shell, Total, CNPC and CNOOC Limited are partners. Pre-Sal

Point Resources Extends Contract with Aker Solutions

Point Resources has executed the remaining part of the option for the maintenance and modifications contract with Aker Solutions.The EPC O&M contract between Point Resources and Aker Solutions was first signed in June 2012, covering the Jotun A, Jotun B, Balder and Ringhorne operating facilities in the North Sea. The contract extension starts at year-end and runs until June 2022.Knut Sandvik, EVP Projects at Aker Solutions, noted, "Aker Solutions has now delivered maintenance and modifications work continuously at these offshore facilities for more than 20 years.”The order will be

Michael O’Sullivan (Photo: PDi)

PDi Taps O’Sullivan as New CEO

This culminated in his appointment as Managing Director of MCS UK in 2009 - following its acquisition by Wood Group – a position he held until 2013. Subsequently running JP Kenny’s operations in Aberdeen, he most recently held the position Vice President of Application Engineering for the Aker Solutions UK products business.In his new role, O’Sullivan will be responsible for growing PDi’s core installation engineering and decommissioning services, developing the international footprint of the company and expanding its subsea engineering design capability. He will be part of the leadership

The Troll A platform in the North Sea. (Photo: Harald Pettersen)

Statoil Awards Subsea Contracts

Statoil has, on behalf of the license partners, awarded EPC contracts for the delivery of subsea production systems and services for the Troll Phase 3 project in the North Sea and the Askeladd project in the Barents Sea, respectively, to Aker Solutions.   The contracts have a total estimated value of between NOK 1.5-2 billion kroner ($190 mln -$254 mln). The contracts include installation and commissioning support services.   “With the award of these contracts a milestone has been reached in two important Statoil projects. The Troll field is key to the role of the Norwegian

Jan Arve Haugan (Photo courtesy Kvaerner)

CEO Haugan Leaves Kvaerner to Lead Aker Energy

1, 2018, he will start his new role as CEO of the newly established oil company Aker Energy. Idar Eikrem, Executive Vice President and Chief Financial Officer in Kvaerner, is appointed interim CEO.   Haugan has been President & Chief Executive Officer with Kvaerner since its demerger from Aker Solutions and stock listing in the summer of 2011.   "Under Jan Arve Haugan's management, Kvaerner has developed into a leading, renowned oil service company with EPC services as our specialty. Competitiveness, project execution and, ultimately, the results, have continued to improve. In a

Karl-Petter Løken (Photo: Kvaerner)

Løken Named CEO at Kvaerner

EVP & CFO Idar Eikrem will continue as interim CEO until Løken steps into the role this spring after ending his current position as head of Project Development for Lundin Norway.   Since 1991, Løken has held positions in the oil and gas industry for companies like Statoil, Aker Solutions and Lundin Norway. From 2011 to 2015, Løken was Engineering Manager for Lundin Norway's Edvard Grieg field development, where Kvaerner was the key contractor. He is educated as a civil engineer from the Norwegian University of Science and Technology

From left to right John Fraser (Sparrows Group), Laura Steedman (BP), Ray Riddoch (Nexen Petroleum U.K. Limited) Photo courtesy of SPE Aberdeen

Offshore Achievement Award winners Announced

; Above & Beyond Award WINNER – John Fraser, Sparrows Group   Great Company Award (SME) - Sponsored by Wood WINNER – BiSN Ltd.     Great Company Award (Large)   WINNER – Entier Limited     Significant Contribution Award - Sponsored by Aker Solutions   WINNER – Ray Riddoch, Nexen Petroleum U.K. Limited  

© Dawid S Swierczek / Adobe Stock

US' First Planned Floating Wind Farm Taking Shape

with the news that California’s Redwood Coast Energy Authority (RCEA) has selected a consortium to enter into a public-private partnership to develop the project off the Northern California coast.   The consortium is comprised of Principle Power Inc., EDPR Offshore North America LLC, Aker Solutions Inc., H. T. Harvey & Associates, and Herrera Environmental Consultants Inc. and was one of six respondents to a Request for Qualifications (RFQ) issued by the RCEA on February 1, 2018.   The proposed project is a 100-150 megawatts floating offshore wind farm planned to be located more

Statoil signs letters of intent for Johan Sverdrup phase 2 with Aibel and Aker Solutions-Kværner joint venture Image Statoil

Statoil Inks LOI for Johan Sverdrup Phase 2

Statoil, on behalf of the Johan Sverdrup partnership, signed a letter of intent with Aibel for the construction of the processing platform topside for phase 2 of the project. A letter of intent for field center modifications is also issued to a joint venture of Aker Solutions and Kværner. Total value is estimated at more than NOK 11 billion ($1.4 billion).   Phase 1 of the Johan Sverdrup development is well underway with planned startup in late 2019. To promote synergies, continuity and a holistic development of the entire field the Johan Sverdrup partnership is issuing letters of intent

The riser platform is one of four platforms that make up the field centre on the Johan Sverdrup field in Phase 1 of the project Photo credit Statoil

First Johan Sverdrup Topside Installed

and a production of 660,000 barrels per day), but power from shore will also make Johan Sverdrup one of the most carbon efficient fields on the Norwegian continental shelf. The riser platform topside was built by Samsung Heavy Industries in three modules, based on the design and engineering of Aker Solutions. Steel cut took place at the yard in South Korea on June 30 2016. Only 19 months later, in February 2018, the Dockwise White Marlin with two main modules on board set sail towards Norway. Three weeks later, the third and final main module followed suit on the Dockwise Mighty Servant 3. Once

Luis Araujo (Photo: Aker Solutions)

Resilient Market Spurs Aker Solutions's Earnings

Norwegian oil services company Aker Solutions reported strengthened earnings for the first quarter of 2018 as orders almost doubled from a year earlier amid increasing signs of a market recovery."We are seeing increasing signs of a market rebound as lower break-even costs and higher oil prices spur project sanctions, particularly in Norway," said Aker Solutions Chief Executive Officer Luis Araujo. "Our consistently strong execution and solid cost-efficiency improvements are supporting margins amid tough international competition."Orders totaled NOK 8.6 billion in the quarter

Courtesy Aker Solutions

Aker Solutions Upgrades Aberdeen Site

 Aker Solutions today officially opens its upgraded Aberdeen services facility to help capture subsea sector growth in the UK and elsewhere. Demand is increasing globally for services at oil and gas fields offshore, including in the UK. Energy companies are seeking to maximize production and returns from existing assets and infrastructure amid tighter budgets. "Our investment in the Aberdeen services base demonstrates our commitment to the North Sea, a mature basin where we see opportunities," said Sian Lloyd Rees, Aker Solutions’ UK country manager. "It’s

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