Aker Solutions ASA

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 [...]

In a bid to accelerate the transition to sustainable energy production, Aker Solutions has today launched a call to action urging industry, authorities and society to work together to achieve common goals. The company has launched its `#PowerTheChange' campaign to highlight the potential opportunities. "As an industry we are facing a dual challenge: how to transition to a low carbon future, whilst simultaneously [...]

It is an industry milestone when Aker Solutions now completes the merger with Kvaerner. The merged company becomes one of the world's leading suppliers of solutions to reduce climate gas emissions from oil and gas installations, and for delivery of complete renewable energy production facilities. Over the past 50 years, Aker Solutions and Kvaerner delivered many of the major breakthroughs in the global oil and gas [...]

Third Quarter Highlights Revenue of NOK 926 million, down 35 percent compared with the same quarter previous year Total EBITDA of NOK 66 million Net interest-bearing debt was NOK 1.5 billion Order backlog was NOK 2.5 billion NES Global Talent combined with Fircroft Group to create leading technical workforce provider Subsequent event: Restructuring of DDW Offshore completed in October, with Akastor assuming 100% ownership [...]

Aker Solutions' revenues, excluding special items, were NOK 4.7 billion and the order intake was NOK 7.1 billion in the third quarter of 2020. 3Q 2020 Financial Highlights Revenue NOK 5.5 billion Revenue ex. special items NOK 4.7 billion EBITDA NOK 938 million EBITDA ex. special items NOK 243 million EBITDA margin ex. special items 5.2% Order intake NOK 7.1 billion Order backlog NOK 29.2 billion "This was a [...]

Reference is made to the stock exchange release dated 27 August 2020 regarding the restructuring of DDW Offshore AS . Final agreements consistent with the key principles set out in the release have been entered into by all parties. Effective from 9 October 2020, Akastor AS owns all shares in DDW Offshore AS. DDW Offshore AS will be consolidated into Akastor Group as a subsidiary as from Q4 2020. For further information [...]

Aker Solutions was awarded a front-end engineering and design contract from ConocoPhillips for modifications on the Ekofisk installations to integrate the Tommeliten Alpha discovery, offshore Norway. The FEED starts immediately and is expected to be completed in the second quarter of 2021 with an estimated value of about NOK 130 million. The contract includes an option for the engineering, procurement, construction, and [...]