Aker Solutions, Equinor Sign LoI for Askeladd Subsea System
Vest natural gas development in the Barents Sea in northern Norway.The development of Askeladd Vest is phase two of the multi-phased Snøhvit gas development in the Barents Sea."We are pleased to extend the series of deliveries to Equinor under the NCS 2017+ framework agreement," said Luis Araujo, chief executive officer of Aker Solutions. He said: "The Askeladd Vest subsea production system is based on our standard technology and products currently being delivered to several ongoing projects, including Johan Castberg, Troll phase three, Askeladd phase one, and the recently awarded
Aker Solutions, Cognite Win $2M Grant for Floating Wind Farm Tech
."This program aligns with Aker Solutions' ambition to develop the offshore wind market in California providing affordable renewable electricity to the state, with the lowest possible environmental footprint and in peaceful coexistence with other ocean users and the local community," said Luis Araujo, chief executive officer of Aker Solutions. "We are grateful to the CEC for trusting us with this important task and we look forward to starting this meaningful work."Digital-TwinsAccording to Aker Solutions, a digital twin model of physical offshore wind assets will be developed to
Aker Solutions Bags 20-Year Deal with Chevron in Gulf of Mexico
improve long-term performance both technically and commercially through multi-project synergies, execution excellence and repeatability, and life-of-field thinking." "We are honored to have entered this master order with Chevron and to have been awarded the Anchor work order," said Luis Araujo, chief executive officer of Aker Solutions. "This demonstrates the mutual trust between the two organizations, as well as the capabilities and experience of our umbilicals manufacturing organization in the US."Aker Solutions' facility in Mobile, Alabama in the United States will
Aker Solutions Eyes Low Carbon Tech
and 25% from technologies that either generate renewable energy or removes or substantially reduces CO2 emissions by 2030."The world will continue to see rising energy demand and the challenge for our industry is the need to deliver this with a significantly lower carbon emissions," said Luis Araujo, chief executive officer of Aker Solutions.Demand for oil and gas is expected to grow over the next decade, although not as fast as the expected growth in renewable energy, Aker Solutions said, pointing to drivers such as electrification, efficiency gains, low-emission fuels and accelerated cost
Aker Solutions Wins ADNOC Umbilicals Contract
the subsea equipment to three new wellhead platforms and link the topside equipment located on the offshore control platform to equipment located onshore."This is the first subsea umbilical award by ADNOC in the UAE and the first subsea award for Aker Solutions in the Persian Gulf," said Luis Araujo, chief executive officer of Aker Solutions.Aker Solutions' facility in Mobile, Ala. will perform the design, engineering and manufacturing of the umbilical system. The work will start immediately and be finalized in the first quarter 2021
Aker Solutions Beats Forecasts
and amortization (EBITDA), excluding one-offs, rose to 629 million crowns ($73 million) from 441 million crowns a year earlier.That beat the 585 million crowns expected by four analysts in a Refinitiv poll."There is still a lot of capacity available in some areas, not all," Chief Executive Luis Araujo told reporters."We try not to focus on the pricing, but focus on things we can control, which is the cost base and efficiency," he said.Its EBITDA margin, excluding IFRS 16 effects and special items, was 6.4%, and Aker Solution expects the full-year EBITDA margin excluding IFRS 16 effects
Grimsrud Named CFO of Aker Solutions
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 report to CEO Luis Araujo.Stoknes was named CFO in September 2014, after joining Aker Solutions in 2007. He held numerous key positions in the company including Senior Vice President Finance for the previous subsea business area
Aker Solutions Raises 2019 Forecasts
55 billion Norwegian crowns and expects some key projects to be approved in six to 12 months, finance chief Svein Stoknes told a news conference."Offshore spending is forecast to increase by up to 5 percent in 2019 and accelerate to 5-15 percent in 2020 according to industry estimates," CEO Luis Araujo said.Rival Halliburton this month said that it expects global offshore spending to rise 14 percent in 2019, double the estimates given by sector leader Schlumberger NV.Aker still faces fierce competition as industry overcapacity looms after years of restraint by oil companies after the 2014-16
Chevron to Use Subsea Compression at Jansz-Io
station that will boost recovery of gas more cost-effectively and with a smaller environmental footprint than a conventional semi-submersible compressor solution, Aker Solutions said."Australia will be the first place outside of Norway to use the subsea compression technology," said Luis Araujo, chief executive officer at Aker Solutions.Aker Solutions, which delivered the world's first subsea compression system for Equinor's Åsgard field offshore Norway in 2015, worked with partners MAN Energy Solutions and ABB to reduce the size and cost of the compression system, Araujo
February 2024
