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Aker Solutions ASA (AKSOL.OL)

AKSOL.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Aker Solutions wins Castberg contract from Sembcorp Marine
Thursday, 7 Dec 2017 01:30am EST 

Dec 7 (Reuters) - Aker Solutions Asa ::AKER SOLUTIONS TO DESIGN JOHAN CASTBERG FPSO ACCOMMODATION UNIT.‍WON A CONTRACT FROM SEMBCORP MARINE TO DESIGN LIVING QUARTERS FOR JOHAN CASTBERG DEVELOPMENT'S FLOATING PRODUCTION, STORAGE AND OFFLOADING VESSEL (FPSO)​.‍PARTIES AGREED TO NOT DISCLOSE FINANCIAL VALUE OF CONTRACT, WHICH WILL BE BOOKED AS PART OF AKER SOLUTIONS' FOURTH-QUARTER ORDER INTAKE​.‍DELIVERY IS SCHEDULED FOR SECOND HALF OF 2018​.‍WORK ON ACCOMMODATION UNIT WILL BE CARRIED OUT AT AKER SOLUTIONS' LOCATIONS IN OSLO AND MUMBAI, STARTING IN CURRENT QUARTER​.  Full Article

Aker says Norway, Brazil contract opportunities crucial to Aker Solutions
Thursday, 23 Nov 2017 03:16am EST 

Nov 23 (Reuters) - Aker ASA Chief Executive Oeyvind Eriksen said on Thursday::Oil service market is improving, several subsea projects expected to be awarded shortly, with majority in Norway and Brazil.Those contract awards would be crucial for Aker Solutions going forward.  Full Article

Aker Solutions to provide umbilicals for Statoil-operated Johan Sverdrup, Utgard and Bauge
Friday, 17 Nov 2017 02:30am EST 

Nov 17 (Reuters) - Aker Solutions Asa ::Won a contract to provide umbilicals for Statoil-operated Johan Sverdrup, Utgard and Bauge developments offshore Norway​.‍Order entails delivery of more than 40 kilometers in total of subsea umbilicals.It will be booked in the fourth quarter.CEO Luis Araujo says: "By combining the delivery for three separate projects into one order, we are able to boost efficiency and reduce costs for the customer".Manufacturing will take place at Aker Solutions' umbilicals plant in Moss, Norway​.  Full Article

Aker Solutions bolsters London LNG team with four hires
Friday, 27 Oct 2017 02:05am EDT 

Oct 27 (Reuters) - Aker Solutions Asa :Says is bolstering its liquefied natural gas capabilities to capitalize on an expected surge in global demand for the fuel.Says has hired four leading specialists with extensive experience from executing more than 30 lng projects globally.The new London-based team is part of the company's front end group, which provides early-phase engineering and consultancy services for energy projects.Aker Solutions is involved in a number of LNG projects around the world, including a liquefaction facility in the U.S. and a floating LNG facility in West Africa.Says demand for gas is expected to outpace oil and coal over the next 20 years, with LNG consumption more than doubling.  Full Article

Aker Solutions CEO says looking for acquisitions
Friday, 20 Oct 2017 03:45am EDT 

Oct 20 (Reuters) - Aker Solutions Asa CEO Luis Araujo told reporters and analysts on Friday::We are looking for opportunistic acquisitions.There is a lot of consolidation; there are opportunities; there is nothing we can talk about now, but we keep looking.  Full Article

Aker Solutions q3 ebitda above forecast, sees 2018 revenues up from 2017
Friday, 20 Oct 2017 01:00am EDT 

Oct 20 (Reuters) - Aker Solutions Asa :Aker solutions q3 revenues nok ‍5.4​ billion (Reuters poll nok 5.54 billion).Aker solutions q3 ebitda nok ‍401​ million (reuters poll nok 361 million).Aker solutions sees overall revenues down by ‍10-15​ percent in 2017 from 2016 (versus previous guidance of down 10-15 percent).Aker solutions asa: ‍outlook for oil services remains challenging as projects continue to be postponed and there is pressure on pricing​.Aker solutions q3 order backlog nok ‍27.2​ billion (reuters poll nok 27.96 billion).Aker solutions q3 order intake nok ‍2.6​ billion (reuters poll nok 3.37 billion).Aker solutions asa: ‍there are some signs of a recovery, particularly offshore norway and in brownfield segment​.Aker solutions asa: ‍tendering is steady and aker solutions is bidding for contracts totaling about nok 55 billion​.Aker solutions asa: ‍majority of these are in subsea area, where company anticipates several key projects to be awarded in next six months​.Aker solutions asa: sees overall revenue in 2018 somewhat up from 2017 pending successful outcome of several key ongoing tenders across all segments and regions​.Aker solutions asa: ‍underlying 2018 ebitda margins are expected to remain around full-year 2017 levels​.Aker solutions asa: ‍full-year 2017 underlying ebitda margins are seen close to third-quarter year-to-date levels, an improvement on company's previous guidance​.  Full Article

Aker Solutions wins order more than NOK 1.6 bln for umbilicals system
Friday, 20 Oct 2017 12:55am EDT 

Oct 20 (Reuters) - Aker Solutions Asa :Reg-Aker solutions wins order for world's largest umbilicals system.Reg-Aker solutions wins order for world's largest umbilicals system.‍aker solutions won an order valued at more than 1.6 billion Norwegian crowns ($201.22 million) to deliver largest umbilicals system ever​.  Full Article

Aker Solutions wins Shell Norway contract
Thursday, 31 Aug 2017 03:00am EDT 

Aug 31 (Reuters) - Aker Solutions Asa :Wins brownfield modifications and maintenance support contract from Shell in Norway for the Nyhamna and Draugen facilities.agreement has a fixed period of four years and may be extended by up to seven years.While volumes will vary from year to year, the contract provides work for Aker Solutions' west coast operations, particularly the division in Kristiansund.The companies agreed to not disclose the financial value of the contract, which will be booked as part of Aker Solutions' third-quarter orders.  Full Article

Aker Solutions CEO says 2017 may see bottom of the revenue cycle
Wednesday, 12 Jul 2017 05:26am EDT 

July 12 (Reuters) - Aker Solutions Asa CEO Luis Araujo told Reuters: :We have not planned any capacity reduction in the short term.When asked if 2017 is the bottom of the cycle for revenue, he says "I would like to think so, of course it's early days for 2018 but signs are positive".Aker Solutions currently bidding for contracts worth 60 billion Norwegian crowns ($7.27 billion) up from 50 billion at end of Q1.Analysts in a Reuters poll on average expect revenues to rise by 3.4 percent in 2018 vs 2017 after falling by a forecast 14 percent in 2017 vs 2016 nL8N1JY33E.  Full Article

Aker Solutions Q2 EBITDA misses forecast, keeps outlook for drop in revenue
Wednesday, 12 Jul 2017 01:08am EDT 

July 12 (Reuters) - Aker Solutions Asa :Aker solutions q2 revenues nok 5.4 billion (Reuters poll nok 5.53 billion).Aker solutions q2 ebitda nok 305 million (reuters poll nok 360 million).Aker solutions q2 order backlog nok 30.7 billion (reuters poll nok 27.83 billion).Company continues to see overall revenue down by about 10-15 percent in 2017 from prior year.With an anticipated modest pickup in field design segments of both projects and services while subsea volumes will be weaker.Maintains its outlook for full-year underlying ebitda margins to narrow slightly from first-quarter levels due to a continued market slowdown and a changing revenue mix.Outlook for oil services remains challenging as projects continue to be postponed amid a volatile oil-price environment.There are some signs of a recovery, particularly offshore norway and in brownfield segment where oil companies are focusing on optimizing output from existing fields.Tendering is healthy and aker solutions is bidding for contracts totaling about nok 60 billion.Majority of these are in subsea area, where company anticipates several major greenfield projects to be awarded in next 12 months.This will be partially offset by a continued strong momentum from the company's global improvement program.  Full Article

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Statoil presents $5.9 billion Castberg oilfield development plan

OSLO Norway's Statoil presented long-awaited investment plans on Tuesday for its Arctic Johan Castberg oil discovery, which is expected to cost 49 billion Norwegian crowns ($5.89 billion) to develop ahead of a 2022 production start-up.