Aker Solutions Tenders for Contracts Worth More than NOK 60B

Reuters

OSLO, Nov 5 (Reuters) – Norwegian oil service company Aker Solution's chief executive officer Luis Araujo made the following comments to Reuters after presenting the firm's third quarter results:

ON TENDER ACTIVITY

"We have tenders for more than 60 billion Norwegian crowns in contracts on a global basis. We are working to maintain our market share."

ON WEAK MARKETS

"I think one thing that is certain today is uncertainty. It's very difficult to predict. We have a very strong backlog and we are preparing our company for low activity longer.

"We are vigilant to see if we have any soft spots. We are managing the situation. This company is strong, and so is our financial position. We are here for the long run."

ON COST LEVEL

"We are trying to get back to the cost level of 2010. That is what we need to do. Actually we have to go further because we have been producing oil at lower prices than 50 dollars. We should be able to do that."

(Reporting by Henrik Stolen, editing by Terje Solsvik)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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