Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Aker Solutions ASA
  6. News
  7. Summary
    AKSO   NO0010716582

AKER SOLUTIONS ASA

(AKSO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Aker Solutions Wins Subsea FEED Contract for NOA Fulla

09/15/2021 | 01:31am EDT
September 15, 2021 - Aker Solutions has been awarded a front-end engineering and
design (FEED) contract from Aker BP for the NOA Fulla field development on the
Norwegian Continental Shelf. The subsea FEED contract makes the company well
positioned for further contracts if the field development moves into the
execution phase in 2022. It could potentially represent work in the range of a
very large[1] contract for Aker Solutions, subject to final investment decision.

The scope of the subsea production systems (SPS) FEED is planned to include 14
standardized vertical subsea trees, VectusT 6.0 based Control system modules,
four six-slot manifolds, wellheads and a large number of tie-in and connection
systems. It will also include close to 60 kilometers of umbilicals. The SPS
project will be executed through the Subsea Alliance between Aker BP, Aker
Solutions and Subsea 7, building on shared goals and incentives as well as a
strategy to leverage technology and digital solutions in new ways to reduce
carbon footprint.

The award follows the successful completion of the front-end concept and study
phase, and work starts immediately with planned completion at the end of the
third quarter of 2022. The FEED work will be led by Aker Solutions' office in
Tranby, Norway.

"This award continues our long-standing collaboration with Aker BP. Through the
Subsea Alliance, we are early involved in the field development, optimizing
design solutions and contributing to a positive final investment decision for
the operators. We look forward to continuing our alliance with Aker BP and
Subsea 7, with a continued strong focus on safe and efficient operations while
helping to reduce the carbon footprint," said Maria Peralta, executive vice
president and head of Aker Solutions' subsea business.

About the Field
The NOAKA area is located between Oseberg and Alvheim in the Norwegian North
Sea. The area holds several oil and gas discoveries with gross recoverable
resources estimated at more than 500 million barrels of oil equivalents, with
further exploration and appraisal potential. Aker BP and Equinor will jointly
develop and operate NOAKA, with LOTOS Exploration and Production Norge AS as
license partner. Aker BP is operator of NOA Fulla. Equinor of Krafla.

The ambition is to develop the NOAKA area with a minimal carbon footprint and
the facilities will be powered from shore. Digital solutions will be used
extensively to ensure high efficiency and low emissions.

[1]Aker Solutions defines a very large contract as being between NOK 2.0 billion
and NOK 3.0 billion.

ENDS

Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com

Aker Solutions delivers integrated solutions, products and services to the
global energy industry. We enable low-carbon oil and gas production and develop
renewable solutions to meet future energy needs. By combining innovative digital
solutions and predictable project execution we accelerate the transition to
sustainable energy production. Aker Solutions employs approximately 15,000
people in more than 20 countries.

Visit akersolutions.com and connect with us on
Facebook (https://www.facebook.com/AkerSolutions/),
Instagram (https://instagram.com/akersolutions/),
LinkedIn (https://www.linkedin.com/company/aker-solutions),
Twitter (https://twitter.com/akersolutions) and
YouTube (https://www.youtube.com/akersolutions).

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

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Lars Kulsrud, Senior Manager,
Communications, Aker Solutions, on September 15, 2021 at 07:30 CEST.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
AKER BP ASA 0.46% 329.3 Real-time Quote.52.31%
AKER SOLUTIONS ASA -1.51% 22.22 Real-time Quote.35.08%
SUBSEA 7 S.A. 3.04% 77.28 Real-time Quote.-12.02%
All news about AKER SOLUTIONS ASA
10/15AKER BP : Flags $150 Million Impairment Charge in Q3
MT
10/14AKER SOLUTION : DeepOcean and Solstad Offshore Create Offshore Renewables Alliance
AQ
10/14SOLSTAD OFFSHORE : Aker Solutions and DeepOcean create offshore renewables alliance
AQ
10/14AKER : DeepOcean and Solstad Offshore Create Offshore Renewables Alliance
AQ
10/14SOLSTAD OFFSHORE : Aker Solutions and DeepOcean create offshore renewables alliance
AQ
10/13AKER SOLUTIONS ASA : Invitation to Presentation of Third-Quarter Results for 2021
AQ
10/12AKER CARBON CAPTURE : Shareholder Baillie Gifford Raises Stake To Almost 13%
MT
10/07AKER OFFSHORE WIND : to Develop Underwater Substations for Floating Wind Farms in Scotland
MT
10/07Aker Offshore Wind Unveils Underwater Innovation for Floating Offshore Wind
AQ
10/07OCEAN YIELD : KKR Unit Secures Minimum Acceptance Threshold For Ocean Yield Takeover
MT
More news
Analyst Recommendations on AKER SOLUTIONS ASA
More recommendations
Financials
Sales 2021 28 059 M 3 331 M 3 331 M
Net income 2021 209 M 24,8 M 24,8 M
Net Debt 2021 3 945 M 468 M 468 M
P/E ratio 2021 52,4x
Yield 2021 0,19%
Capitalization 10 777 M 1 281 M 1 279 M
EV / Sales 2021 0,52x
EV / Sales 2022 0,45x
Nbr of Employees 14 789
Free-Float 44,9%
Chart AKER SOLUTIONS ASA
Duration : Period :
Aker Solutions ASA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AKER SOLUTIONS ASA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 22,22 NOK
Average target price 19,50 NOK
Spread / Average Target -12,2%
EPS Revisions
Managers and Directors
Kjetel Digre Chief Executive Officer
Idar Eikrem Chief Financial Officer
Leif Arne Lang°y Chairman
HervÚ Valla Chief Technology Officer
Dean Watson COO & Executive VP-Subsea Lifecycle Services
Sector and Competitors
1st jan.Capi. (M$)
AKER SOLUTIONS ASA35.08%1 281
WORLEY LIMITED-8.62%4 089
OFFSHORE OIL ENGINEERING CO., LTD.6.01%3 271
TECHNIP ENERGIES N.V.0.00%3 000
SUBSEA 7 S.A.-12.02%2 739
LIBERTY OILFIELD SERVICES INC.47.62%2 714