* Q4 EBITDA NOK 1.06 bln, in line with forecasts
* Sees 8-10 pct yr/yr offshore capex growth
OSLO, Feb 13 Norwegian oil services firm Aker
Solutions reported fourth-quarter earnings in line
with forecasts on Thursday and struck an unexpectedly upbeat
tone about its outlook.
Aker Solutions, part of billionaire Kjell Inge Roekke's
business empire, said it was experiencing robust demand, even as
oil companies were reining in capital spending, potentially
impacting some of its businesses.
"The underlying global economic outlook will support a
strong market, with spending on offshore exploration and
production growing 8 percent to 10 percent annually through
2017," Aker Solution said.
"Growth will be faster in the subsea market and other
offshore segments such as deepwater where the company is well
positioned to expand."
Aker Solutions ditched its long-term growth targets in
December, saying it needed to focus on profit over growth as oil
firms were reducing capital spending to save cash for bigger
Its prospects took another hit last week when Norway's
Statoil, one of the firm's biggest customers, said it
would cut capital spending by $5 billion over the next year,
sharply reducing maintenance and modification spending, a
lucrative business segment for oil services firms.
"Some areas of Aker Solutions, such as operational services
for fields in production and lifecycle services on
single-equipment sales, will be less affected by the
constraints," it said. "The impact may be felt on larger
projects through specific investment delays or concept changes."
In the fourth quarter, its earning before interest, taxes,
depreciation and amortisation fell 2 percent to 1.06 billion
crowns ($170 million), in line with expectations.
($1 = 6.1157 Norwegian krones)
(Reporting by Balazs Koranyi, editing by Elizabeth Piper)