International oil services, engineering and construction company Aker Solutions has decided to cultivate its core businesses by creating three separate companies.
The new streamlined entities have a clear ambition to grow in their respective markets.
The new strategic direction, which was announced at the company's capital markets day in Oslo on Thursday, is the conclusion of a strategy process initiated by the Board in second quarter 2009.
According to a press release, the future Aker Solutions will be a fully-fledged provider of engineering, technologies, solutions and services for the upstream oil and gas industry. Its range of offerings will include deepwater drilling technologies, subsea oil and gas production systems, well services, mooring and offloading systems, wellstream processing technologies, as well as life-of-field solutions through its maintenance, modification and operations business.
Aker Contractors will be a specialised EPC (engineering, procurement and construction) company with a strong position in the North Sea field development market, key positions in selected international target regions, and a strong offering of distinct offshore products with a global market. The new company will continue to target offshore and onshore EPC field development projects with the ambition to maintain its strong position in the North Sea and further grow its international presence
Process & Construction International, a leading global supplier of engineering and construction services to onshore industry segments.
After establishing P&C International and Aker Contractors as separate companies, Aker Solutions will become a thoroughbred engineering and technology company in the oil and gas industry.
The company says it has a wide range of technologies and solutions for deepwater drilling and subsea oil and gas production systems and products. It also offers mooring, loading and deck equipment as well as well stream processing technology.