Total cancels contract for Skandi Aker

Total in Angola has notified Aker Solutions' subsidiary Aker Oilfield Services of the termination of a $250-million, two-year contract for the Skandi Aker vessel.

Offshore staff

PARIS –Total in Angola has notified Aker Solutions' subsidiary Aker Oilfield Services of the termination of a $250-million, two-year contract for the Skandi Aker vessel.

Skandi Aker started operations as a well-intervention vessel for the first time in September last year when the contract with Total began. The value of the remaining contract period is about $150 million.

The vessel's capacity utilization has been 37% so far in 2014 after operations halted at the end of March for maintenance and repairs.

In September, Aker Oilfield Services will become part of Akastor, an oilfield services investment company that will be one of two companies formed as part of the announced separation of Aker Solutions. All financial consequences of the termination will be assumed and accounted for by the Akastor group.

06/25/2014

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