Aker Solutions Names New Head of Geo Business

- Aker Solutions Names New Head of Geo Business

Monday, August 29, 2011
Aker Solutions

Aker Solutions has appointed Bengt Larssen as head of its geo business.

Mr. Larssen has since February 2010 been with Aker Solutions' geo business as vice president exploration. Prior to Aker Solutions he has spent 16 years in various management positions at Schlumberger/Western Geco, operating as geophysicist on both the exploration and production side of the business. He has also spent two years at Tromsø-based oil company Front Exploration AS.

Mr. Larssen, who will be based in Stavanger, Norway, holds a masters degree in geology from the University of Oslo. He starts in his new role on September 1, 2011.

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Aker Solutions Scores Drilling Equipment Contract for DSME

- Aker Solutions Scores Drilling Equipment Contract for DSME

Friday, August 26, 2011
Aker Solutions

Aker Solutions has received a Letter of Award from Daewoo Shipbuilding & Marine Engineering (DSME), to supply two drilling equipment packages to the new 'Cat D' drilling rigs the yard is building for the rig operator Songa Offshore. Options (if exercised) for two additional units are included. Contract value is undisclosed.

The development of the two Cat D semi-submersible drilling rigs has been initiated by Statoil, the international energy company, which awarded two long-term contracts for the units to Songa in July 2011.

The first two units will be delivered in 2014, and the main deliveries from Aker Solutions will take place in 2012 and 2013. The contract includes topside drilling equipment, procurement and commissioning of the rigs at the DSME yard. The two optional units (if exercised) are scheduled for completion in 2015.

"We are very pleased to win these contracts, which demonstrate the good cooperation between Statoil and the drilling operators and drilling system providers. Together, we have developed a new generation drilling and well intervention design, purpose made for the needs for North Sea operations, through a joint FEED (front end engineering and design) phase. We are also looking forward to continuing the good, long-term collaboration with DSME on this project, the latest addition to a long string of successful joint projects," said Thor Arne Håverstad, head of Aker Solutions' drilling technologies business.

Work on the project will start immediately in Kristiansand, Norway, and in other Aker Solutions drilling technologies units in Asker, Norway, Erkelenz, Germany and Houston in the US.

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Aker Solutions Brazil Appoints New Subsea President

- Aker Solutions Brazil Appoints New Subsea President

Friday, August 19, 2011
Aker Solutions

Egil Boyum has been appointed president of Aker Solutions' subsea business in Brazil. Boyum, a Norwegian citizen, has been employed by Aker Solutions since 1984 and has held a range of management roles during this time.

"We have doubled the business since 2008 and need to strengthen our management capabilities to facilitate the continued growth. Hence we have recently recruited several new managers in Brazil and most recently, Egil Boyum, who is one of our most experienced managers," said Mads Andersen, executive vice president of Aker Solutions' subsea business area.

Boyum is an industry veteran and has held a wide range of roles from technical positions in his early career to being global head of operations, heading up global aftermarket and SVP of subsea systems. Boyum's current role of SVP involves heading up the win and client relationship function of major subsea products in Aker Solutions.

Boyum will replace Marcelo Taulois who has been leading Aker Solutions' Brazilian business since 2001. Taulois has developed new market opportunities through the three Brazilian hubs in Curitiba, Rio das Ostras and Rio de Janeiro and has also been a key player in the successful implementation of Aker Solutions' global policies and strategies within these regions. Aker Solutions will now look for other opportunities for Taulois within the company.

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Aker Solutions to Create 500 UK Jobs Next Year

- Aker Solutions to Create 500 UK Jobs Next Year

Friday, August 19, 2011
Aker Solutions

Aker Solutions aims to create 500 new UK jobs over the next year. In a bid to grow its business substantially, Norway-listed Aker Solutions is set to recruit 300 staff to its Aberdeen operation and create 200 positions at the company's newly established west-London engineering office.

The move follows a successful start to the year for the oil and gas engineering and technology services company, which has increased its order backlog by 19 percent since January 1st. It said that market outlook for both the UK and Norwegian North Sea as well as Brazil, West Africa and Asia Pacific remains strong.

"Last year we decided to take a much more proactive recruitment approach. Since then our strategy has been to man up ahead of the big waves of work that we know are coming. That offers much greater predictability for our customers and ourselves," said Alan Brunnen, a managing director with Aker Solutions in Aberdeen. The company aims to recruit 300 new employees in Aberdeen alone.

The majority of positions in Aberdeen are for the subsea technology business where 200 new posts will be created. A further 70 positions are being recruited to support work for maintaining and upgrading North Sea oil platforms in order to extend their field life. Aker Solutions' well service business, which provides technologies and services aimed at increasing oil recovery from producing wells, requires a number of technical and ancillary personnel. As does the drilling technology business, which provides drilling systems and life-cycle services to support new generation drilling assets that are entering the UK North Sea.

New London office

By tapping into the London oil and gas market, Aker Solutions in the next year aims to hire approximately 200 engineering personnel to its new London offices with a target of 500 by the end of 2015. Located in Chiswick Park, this global engineering hub will support field development projects for the North Sea and worldwide.

"Our company has had a historical presence in London, so this is a re-entry to an engineering market we know very well. So far we have received more than 2 000 job applications, which underlines that there is scope to grow this business rapidly," said Valborg Lundegaard, head of engineering in Aker Solutions.

Alan Brunnen added, "We anticipate that workload levels will remain high over the coming years, which is why we are staffing up our UK organization now. We want to be well placed to capitalize on future opportunities that arise in our markets".

Aker Solutions is one of Scotland's largest employers with a workforce of more than 2 500 people. In addition the company has smaller offices and facilities in Great Yarmouth, Maidenhead, Stockton-on-Tees and Whitstable. The company employs 17 000 employees plus 6 000 contract staff in 30 countries worldwide, and has annual revenues of approximately GBP 3.9 billion.

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Siemens Welcomes New CEO of Compression and Solutions

- Siemens Welcomes New CEO of Compression and Solutions

Friday, August 19, 2011
Siemens

Terrance N. Ivers, 53, new CEO of the Compression and Solutions Business Unit of the Oil & Gas Division effective August 1, 2011, has succeeded Donald Weir, who has decided to leave Siemens. Since 2007 Ivers was the president of Amec Paragon, an international project management company and service provider to the upstream and midstream (especially pipeline) industries.

Ivers is a mechanical engineer and began his career at KBR, a leading international supplier for the oil and gas industry. At KBR he held a number of managerial positions in the fields of pipelines and offshore engineering where he gained outstanding experience in the oil and gas business. From 2004 to 2007, Ivers served as Chief Operating Officer for Alliance Wood Group Engineering.

"We would like to thank Donald Weir for his achievements for our company," said Tom Blades, CEO of the Oil & Gas Division. The Compression and Solutions Business Unit offers products and solutions for the oil and gas market. "With his extensive experience, deep understanding and broad network in the oil and gas industry, Terrance Ivers is the right person to further advance and develop our business," added Blades. Ivers will be based in Houston, Texas, one of the most important centers for the oil and gas sector. Activities in Houston significantly influence both the local U.S. market as well as international business.?

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Aker Solutions 2Q Earnings Lower Than Expected

- Aker Solutions 2Q Earnings Lower Than Expected

Friday, August 12, 2011
Aker Solutions

Aker Solutions' operating revenues in the second quarter of 2011 were NOK 7.8 billion. Earnings before interest, tax, depreciation and amortization amounted to NOK 636 million. Order intake in the quarter was NOK 14.3 billion.

"We have a strong order intake which reflects high tendering and activity levels across all business segments. In fact, our order backlog has increased 19 percent since the beginning of the year. This is in line with our long term growth plan. However, this quarter has also provided us with some reminders about the importance of further improving our operational performance," said Øyvind Eriksen, executive chairman of Aker Solutions.

Second quarter consolidated revenues was NOK 7 809 million, compared with NOK 8 096 million in the same period in 2010. EBITDA for the second quarter of 2011 was NOK 636 million (8.1 percent EBITDA margin), compared to NOK 853 million one year ago. Profits in the quarter were negatively affected by execution challenges and the final arbitration ruling on Blind Faith.

"In the second quarter quality costs related to execution issues in Brazil alone amounted to NOK 130 million in our Subsea and Process Systems businesses. With quality and customer satisfaction as two of our top priorities, this is obviously disappointing," Eriksen said.

Order intake in the second quarter was NOK 14.3 billion. At the end of the second quarter Aker Solutions' order backlog was NOK 46 billion - an increase of NOK 5.5 billion from the previous quarter.

During the second quarter Aker Solutions concluded the structural changes outlined at the company's capital markets day in December 2010. The final step was the demerger and separation from specialized EPC contractor Kværner ASA.

"Today Aker Solutions is a pure oil service player focusing on engineering, technology, products and field-life solutions. We have a strong cash position fueled by solid earnings and gains from strategic divestments. We will convert our financial strength to capacity with the aim of facilitating further growth. However, we will also ramp up our efforts of building a stronger quality culture to further improve our day-to-day operations," said Øyvind Eriksen.

"Our growth plans are ambitious and we need qualified people to meet these objectives. In the first half of 2011 we have hired almost 1 200 new colleagues worldwide. I am pleased to see that so many new colleagues share our technology vision and company values," adds Eriksen.

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Aker Solutions Scores Subsea Contract for Kikeh Proj.

- Aker Solutions Scores Subsea Contract for Kikeh Proj.

Thursday, August 11, 2011
Aker Solutions

Aker Solutions has secured a contract with Murphy Sabah Oil Co., Ltd. to deliver a subsea production system for the Kikeh subsea expansion project off the coast of Sabah in East Malaysia. Contract value is undisclosed.

The scope of work includes the delivery of deepwater oil production equipment such as subsea trees, control modules distribution system and manifolds that will be installed at a water depth of 1350 meters.

The project will be delivered out of Aker Solutions high-tech subsea manufacturing center in Port Klang, Malaysia. This is the only facility in the world where a complete subsea production system can be manufactured in one location.

The subsea hardware is expected to be on production in 2013. Aker Solutions was responsible for the delivery of the original Kikeh scope back in 2005. It was the first deepwater development in Malaysia and the Asia Pacific region.

Dave Hutchinson, president, subsea Asia Pacific at Aker Solutions said, "We are extremely pleased to have Murphy as our returning customer. We will deliver a quality project fully utilizing our experience in the region."

The contract party is Aker Process Systems Asia Pacific Sdn. Bhd. The contract has been signed and booked as order intake in 2Q 2011.

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Aker Solutions Secures Drilling Riser Contract

- Aker Solutions Secures Drilling Riser Contract

Monday, July 04, 2011
Aker Solutions ASA

Aker Solutions has been awarded a contract for the delivery of a deepwater drilling riser system to the DSME shipyard in South Korea. The riser package will be delivered to offshore drilling company Atwood Oceanics' drill ship. The contract value is approximately USD 50 million and includes an option for another two units.

The 10 000 ft deepwater drilling riser system will be manufactured and delivered out of Aker Solutions' manufacturing plant in Port Klang, Malaysia. Delivery of the first drilling riser system is scheduled for June 2013.

"We are very pleased that DSME once again decided to purchase an Aker Solutions CLIP riser system," said Thor Arne Håverstad, executive vice president of Aker Solutions' drilling technologies business. "This is the sixth drilling riser contract we are signing with DSME and we are very pleased to continue the good relationship with them."

Aker Solutions currently has 15 drilling riser systems in operation, of which six complete drilling riser systems have been delivered this year.

"I am pleased to see that we are able to deliver another deepwater CLIP riser to our returning customers. These achievements are the results of the CLIP risers' operational advantages, our technology expertise and service offering in the deepwater drilling market," says Tom Munkejord, president of Aker Solutions' drilling riser business.

Aker Solutions offers complete drilling equipment packages, including project management, conceptual design, detailed engineering and procurement. We provide the full range of topside drilling equipment and systems, and worldwide customer support through our global drilling life-cycle services organization.

The contract has been signed and booked as order intake in 2Q 2011.

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Aker Solutions Wins Rig Pair

- Aker Solutions Wins Rig Pair

Monday, May 30, 2011
Aker Solutions

Aker Solutions has won two contracts to supply complete drilling equipment packages for two new deepwater drilling units that are being built by Cosco, the Chinese shipbuilding company.

The combined value of the contracts is about $195 million, and includes options for a further two units.

"These contracts underline our attractive offering in the deepwater drilling market. Current tender activity is high, and we are pleased to see that our position in the deepwater market is competitive," said Thor Arne Håverstad, executive vice president and head of Aker Solutions' drilling technologies business.

The equipment will be delivered to both units during 2012 and 2013.

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HWCG Expands Deepwater Capabilities

HWCG Expands Deepwater Capabilities

Wednesday, March 30, 2011
The Helix Well Containment Group

The Helix Well Containment Group (HWCG) announced it will substantially increase its subsea well containment capabilities this year by expanding its ability to control and contain a release in water depths up to 10,000 feet.

HWCG is a consortium of 22 deepwater operators in the Gulf of Mexico that has come together with the common goal of expanding capabilities to quickly and comprehensively respond to such an incident to protect employees, communities and the environment. HWCG's current system is capable of facilitating control and containment of spills in water depths up to 5,600 feet and will utilize Helix Energy Solutions Group's Q4000, the intervention vessel effectively used during the Deepwater Horizon response.

The system features a 10,000 psig capping stack.

By April 8, 2011, the system is expected to have increased containment capacity and capabilities for water depths up to 8,000 feet, as well as capture and processing capabilities of 55,000 barrels of oil per day and 95 million cubic feet of natural gas per day. In the coming weeks, HWCG will also add a 15,000 psig capping stack.

Full operational capability for water depths of up to 10,000 feet is anticipated mid-summer 2011.

"Our enhanced response and containment capabilities would exceed the depth of any well currently drilled or planned by the consortium's 22 members and would allow operators to control capping and containment stacks at the greater depths," said Roger Scheuermann, commercial director for HWCG.

Building upon equipment effectively used in the Deepwater Horizon response, HWCG has signed an agreement with Helix Energy Solutions Group to provide the primary components of the response. Additionally, HWCG has agreements in place with more than 30 service providers who will provide additional services, products and personnel, if needed.

Aker Solutions Awarded LOI for Fossekall-Dompap Project Development

Aker Solutions Awarded LOI for Fossekall-Dompap Project Development

Wednesday, March 30, 2011
Aker Solutions

Aker Solutions has been awarded a letter of intent (LOI) by Statoil for the engineering, procurement and construction of a subsea production system for the Fossekall-Dompap project on the Norwegian continental shelf. Aker Solutions estimates the contract value to be approximately NOK 1 billion.

Scope of work includes three template-manifold structures, 11 subsea trees, a control system and a tie-in system. The contract also contains several options for other field developments on the Norwegian continental shelf which Statoil may exercise.

"We are honored to be so deeply involved in this innovative fast track project. Our goal is to deliver optimum standardized technologies in order to satisfy our customers' requirements. We look forward to working with Statoil on these new frontiers, which offers further growth potential opportunities," said Mads Andersen, executive vice president of Aker Solutions' subsea business area.

Management, engineering and procurement of the subsea production system will be primarily performed at Aker Solutions' headquarters in Oslo, Norway. Fabrication of the subsea trees will be completed at the Tranby manufacturing center, Norway, production of the template-manifolds will be carried out at the Egersund yard,Norway, and the control system from Aberdeen, UK. Final deliveries will be made in 2Q 2013.

Fossekall-Dompap is a fast track project located north of the Norne field, 200 kilometers west from Sandessjoen and occupies blocks 6608/10 and 6608/11 in a water depth of approximately 380 meters.