Total Cancels Skandi Aker Vessel Contract

Norway's Aker Solutions reported Wednesday that its subsidiary, Aker Oilfield Services, has been notified by Total in Angola of the termination of a $250-million, two-year contract for the Skandi Aker vessel. Skandi Aker, a well-intervention vessel, started operations in September 2013 when the contract with Total began.

Aker said that the value of the remaining contract period is about $150 million and that this will be removed from the company's order backlog.

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

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