Aker Solutions sees growth in offshore project tendering

May 5, 2021
Aker Solutions’ first quarter orders totaled NOK9.4 billion ($1.13 billion), up 39% on the previous quarter.

Offshore staff

FORNEBU, NorwayAker Solutions booked first quarter orders totaling NOK9.4 billion ($1.13 billion), up 39% on the previous quarter.

Highlights included the Troll West electrification in the North Sea and the Åsgard B topsides EPCI modification, both for Equinor; the Eldfisk North subsea production system for ConocoPhillips; the offshore New York State Empire Wind FEED for Equinor and bp; Mero 3 (Brazil) topsides engineering and procurement for MISC, Agogo (Angola) subsea umbilicals for Eni; and Barossa (Timor Sea) subsea umbilicals.

The outlook for project sanctioning for 2021 and 2022 looks positive in both traditional oil and gas and energy transition markets, Aker Solutions added, with the temporary tax incentives introduced last year by Norway’s government set to lead to sanctioning of more than 30 new offshore projects by the end of 2022.

Various early-phase studies will likely to develop into front-end engineering and design work in the second half of this year.

At present the company is bidding for contracts totaling around NOK78 billion ($9.37 billion), of which around 30% relates to areas such as offshore wind, carbon capture, hydrogen, and low-carbon solutions for oil and gas, i.e. subsea gas compression and electrification.