Aker Solutions ASA

- Joint venture company will combine the Baker Hughes Subsea Drilling Systems business and MHWirth to better serve customers while simultaneously driving productivity and cost synergies - Company will have dual operational headquarters in Houston, TX and Kristiansand, Norway HOUSTON and FORNEBU, Baker Hughes and Akastor ASA have announced an agreement to create a joint venture company that will bring together Baker [...]

Aker Solutions has secured a letter of intent from Equinor for the topside work on the Troll B and C platforms offshore Norway to reduce the CO2 emissions. These modifications will include installation of equipment for receiving electrical power from shore via cable. This will replace power generation from gas turbines at the platforms, and thus reduce climate footprint. The award is estimated to be very large1. Aker [...]

Sound orderbook, strong market outlook, growth in energy transition. Aker Solutions and Kvaerner successfully completed the merger in the fourth quarter 2020. Fourth-quarter revenue ended at NOK 6.8 billion and the EBITDA at NOK 121 million, in line with previous communication. Despite the challenging backdrop of the COVID-19 pandemic, the order backlog grew 15 percent compared to in 2019 and ended at NOK 38 billion. The [...]

Fourth Quarter Highlights Revenue of NOK 973 million, down 37 percent compared with the same quarter previous year Total EBITDA of NOK 57 million Net cash flow from operating activities of NOK 467 million, driven by reduction of net working capital Net interest-bearing debt of NOK 1.4 billion, including NOK 426 million of net bank debt in DDW Offshore Order backlog of NOK 2.4 billion per end of quarter MHWirth received [...]

Aker Solutions has secured a contract from Aker Carbon Capture for engineering, procurement and management assistance to realize the CO2 capture plant at Norcem's cement factory in Brevik, Norway. The project will start in January 2021 and work will be completed in 2024. The contract has a value of about NOK 500 million. The plant will become the world's first large-scale capture plant at a cement producer, capturing some [...]

HWirth AS, a company owned by Akastor ASA , has today received notification of award of a contract for delivery of a drilling equipment package to Guangzhou Marine Geological Survey . The contract is for delivery of the topside drilling equipment to be installed onboard a drillship operated by GMGS with expected delivery date in December 2023. Total contract value is about USD 80 million. MHWirth will now engage with the [...]

Aker Solutions has been awarded a contract by Equinor for delivering the new CO2 receiving facilities Northern Lights outside Bergen, Norway. The company has also won a contract from Equinor to deliver the subsea equipment for injecting captured CO2 into a reservoir for permanent storage. In total, the new contracts have a value of about NOK 1.3 billion. Work will start in January 2021 and the deliveries will be completed [...]

Aker Solutions has signed a contract to deliver hook-up and commissioning assistance of the P2 processing platform at Equinor's Johan Sverdrup field offshore Norway. Onshore preparation work starts immediately. Offshore hook-up work will start in 2022 after the platform has been installed offshore and will commence until production start in the fourth quarter of 2022. The contract has an estimated value of about NOK 500 [...]

MHWirth AS , a company owned by Akastor ASA, has received a notice from Keppel FELS to suspend works under the drilling equipment package project for the second mid water semisubmersible drilling rig under construction at Keppel FELS. The project relates to the main construction contract between Keppel FELS and Awilco Drilling, which was recently terminated by Keppel FELS. The contract between MHWirth and Keppel FELS was [...]

Aker Solutions has signed a letter of intent with Equinor for the delivery of a subsea production system to the Kristin Sør oil and gas satellite fields in the North Sea. The contract value is about NOK 1 billion, with options for some additional work. The intention is to start work during 2021, and to complete the delivery in the first half of 2023. The Kristin Sør development consists of the fields Lavrans and Kristin [...]