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Good times for the oil and gas supply industry

Aker Solutions, Norwegian supplier of oilfield products, systems and services for customers in the oil and gas industry world-wide, reports an order intake in the second quarter of NOK 23.0 billion.

According to a company press release, this brings the order backlog to NOK 54.1 billion, an increase of 31 per cent from the beginning of the year. The biggest contract signed in the second quarter is the NOK 11 billion contract to provide well intervention services to Statoil from a newbuild Cat B intervention rig for eight years starting in 2015.

Aker Solutions has announced significant acquisitions and investments in the second quarter. The company targets the Middle East and North Africa through the USD 460 million acquisition of NPS Energy. Capacity in the drilling technologies business will be increased significantly through a new USD 100 million service site in Brazil, and a new USD 60 million manufacturing facility for subsea umbilicals will be built in Malaysia.
 
"The oil and gas market is buoyant and tendering activity remains high. We are making these and several other investments to support our customers and capitalise on the opportunities available," Eriksen says.
 
"The acquisition of NPS Energy is particularly important, as this will give Aker Solutions a strong presence and distribution platform for our broad portfolio of products and services into the world's most prolific oil and gas region - the Middle East and North Africa. These are truly exciting times for Aker Solutions," concludes Eriksen.

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