Aker targets Middle East well engineering growth

Aker Solutions (Oslo Børs:AKSO) has agreed to acquire NPS Energy, part of oilfield services company National Petroleum Services.

Offshore staff

OSLO, Norway – Aker Solutions (Oslo Børs:AKSO) has agreed to acquire NPS Energy, part of oilfield services company National Petroleum Services.

NPS, based in Dubai, employs 900 personnel and has a strong presence in the Middle East and North Africa.It mainly provides well intervention - including coil tubing, wireline services, cementing, pressure pumping, well logging and testing - and perforation equipment.

To date, Aker has focused primarily on the supply of well intervention services in the United Arab Emirates, Oman, and Saudi Arabia, along with some surface wellheads and process systems.

Aker’s contract awards this year include surface wellhead equipment to Bahrain and Egypt. The company admits that its success rate in recent tendering has been fairly low.

Aker hopes to use NPS Energy’s local presence and contacts to boost its sales in the region. It plans to create a new engineering office in the United Arab Emirates to group together the entire Aker Solutions portfolio of services.

NPS Energy will remain headed by Adnan Ghabris, who will also become Aker Solutions’ regional president for the Middle East and North Africa region.

Ghabris aims to strengthen NPS’ position in well intervention services in the region “by introducing Aker Solutions’ technologies, such as wireline tractors and downhole tools, to our existing customers. There is also a significant potential in introducing Aker Solutions’ process systems, surface wellheads, and drilling technologies…”

5/21/2012

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