Aker Solutions acquires Thrum Energy

Thu Nov 22, 2012 1:31am EST

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22 November 2012 - Aker Solutions, the international oil services provider, is buying Canadian asset integrity management (AIM) company Thrum Energy Inc. The acquisition will grow Aker Solutions' AIM portfolio and increase the company's presence in the Atlantic Canada market.

Aker Solutions is buying Canadian asset integrity management (AIM) company Thrum Energy Inc. Thrum Energy is a St. John's, Newfoundland-based asset integrity management company. The company provides a diverse portfolio of quality services to both onshore and offshore assets in Canada.

Asset integrity management (AIM) in Aker Solutions includes maintenance engineering, integrity management and advanced inspection and monitoring solutions, spanning from early design throughout the lifetime of an asset. The service helps clients reduce risk and improve availability of their onshore and offshore assets.

Canada
The acquisition supports Aker Solutions' growth plans in North America in general and in St. John's and Atlantic Canada in particular. Aker Solutions currently employs 40 people in St. John's. The company is also present in Calgary, Alberta.

"This is an important acquisition both for our AIM business, which we want to grow significantly over the coming years, and for our ability to meet customer expectations in Canada," says Tore Sjursen, head of maintenance, modifications and operations in Aker Solutions.

"We already have a strong presence with the AIM services we offer to customers on the Norwegian and UK continental shelf. With the acquisition of Thrum Energy we will increase our own competence as well as expand our offering to customers geographically," Sjursen says.

The transaction is expected to be closed in Q4 2012. The financial details are undisclosed.

ENDS

For further information, please contact:

Media:
Magnus Godiksen, Communications Advisor, Aker Solutions. Tel: +47 22 94 70 77, Mob: +47 46 40 22 30, E-mail: magnus.godiksen@akersolutions.com

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 91 13 71 94, E-mail: lasse.torkildsen@akersolutions.com

Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers

Career opportunities:
Visit http://www.akersolutions.com/careers

Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.

Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 25 000 people in more than 30 countries. They apply the knowledge and create and use technologies that deliver their customers' solutions.

Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2011 Aker Solutions had aggregated annual revenues of approximately NOK 36.5 billion. The company is listed on the Oslo Stock Exchange.

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.





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Source: Aker Solutions ASA via Thomson Reuters ONE

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