Aker Solutions has entered a master agreement to provide umbilicals for Chevron-operated oil and gas fields in the US Gulf of Mexico. The company also secured the first work order under the new master agreement, to provide 24 kilometers of umbilicals for Chevron's Anchor project. The scope of the Chevron agreement includes the delivery of engineering, design and manufacturing of dynamic and static control umbilicals [...]
OSLO, Norway, Feb. 13, 2020 /PRNewswire/ -- Highlights Revenue NOK 1 557 million EBITDA NOK 153 million EBITDA margin 9.8 percent Order intake NOK 1 168 million Order backlog NOK 3.2 billion Net interest-bearing debt NOK 0.7 billion Akastor CEO Karl Erik Kjelstad comments: "I am pleased to see the positive development in our portfolio companies. MHWirth continues the positive trend of delivering strong revenue and EBITDA [...]
Akastor ASA will publish its fourth quarter 2019 results on Thursday February 13, 2020 at 7:00 a.m. CET. The presentation will be available through a conference call and audiocast only, at 8:00 a.m. CET. The presentation will be audiocasted live, and available through a dial-in conference call. There will be a Q&A session following the presentation. The replay will be made available on the company website. Please join the [...]
Aker Solutions has secured a front-end engineering study from Equinor to enable power from shore for the Troll B and C platforms, to reduce CO2 emissions from the field. The contract includes an option for the engineering, procurement, construction and installation work following the completion of the study. The study will outline how installation of electrical equipment on Troll B and C, as well as replacement from gas [...]
Aker Solutions has been awarded a contract from Aker BP to deliver the subsea production system for the second phase of the Ærfugl development offshore Norway. The subsea delivery will include wellheads, vertical subsea trees, satellite structures, control systems, a tie-in module and about 30 kilometers of umbilicals. The contract has a value of about NOK 700 million, which will be booked as order intake in the [...]
Vår Energi has awarded Aker Solutions a three-year frame agreement for maintenance and modification services, with an option for two additional years. Aker Solutions has delivered maintenance and modifications work for Vår Energi's Jotun, Balder and Ringhorne assets for 19 years. "We look forward to continuing our great cooperation with Vår Energi," said Linda L. Aase, executive vice president [...]
Øyvind Paaske has been appointed as Chief Financial Officer in Akastor ASA effective from 1 March 2020. He replaces Leif H. Borge who will remain in the position up to this date, after which he will assume a new position in a company outside the Aker group. Øyvind Paaske joined the investment team in Akastor in 2014. Prior to this, he held the position as Investment Manager in Aker ASA. He holds an MSc in [...]
Aker Solutions and a group of the world's leading oil and gas operators have come together in a joint industry project with the aim of making subsea gas separation a reality. Using CO2 injection to increase recovery rates in offshore oil and gas fields can improve the economics of a field significantly, but so far, the separation of `back-produced' CO2 from the well-stream has been considered carried out on an existing [...]
Aker Solutions has been chosen by Equinor as the main supplier for inspection services for more than 15 operating facilities in Norway. A frame agreement is expected to be signed shortly, covering an initial period of six years with options for two additional four-year extensions. The estimated value of the agreement is NOK 1.2 billion for the six-year period. The agreement covers a wide range of inspection services [...]
Highlights Revenue NOK 1 430 million EBITDA NOK 133 million EBITDA margin 9.3 percent Order intake NOK 1 149 million Order backlog NOK 3.3 billion Net interest-bearing debt NOK 1.1 billion Akastor CEO Karl Erik Kjelstad comments: "In an offshore rig market that is still struggling with overcapacity, MHWirth delivered strong revenue growth of 50 percent in [...]
Aker Solutions aims to generate about half of its revenue from renewable or distinct low carbon solutions by 2030, according to the company's 20/25/30 strategy. The oil and gas industry will remain Aker Solutions' biggest market, but over the next decade the company will have a more balanced portfolio of products and technologies that either generate renewable energy or removes or substantially reduces CO2 emissions. "The [...]
Aker Solutions' revenue increased in the third quarter of 2019 compared to the same period a year earlier, as the company experienced higher activity levels across segments with several key deliveries globally. 3Q 2019 Financial Highlights Revenue NOK 7.1 billion EBITDA NOK 553 million EBITDA margin 7.8% EBITDA ex. special items NOK 570 million EBITDA margin ex. special items 8.0% Earnings per share ex. special items NOK [...]
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