Aker Secures FEED Deal from Idemitsu for Blocks 05-1b, 05-1c Off Vietnam

Norway's Aker Solutions announced Tuesday that it has secured a contract from Japan's Idemitsu Oil and Gas Co., Ltd. to provide engineering services for the Blocks 05-1b and 05-1c development in the Nam Con Son basin offshore Vietnam.

Aker Solutions' nine-month contract is for the provision of front end engineering design (FEED) work for the Sao Vang and Dai Nguyet developments in the Idemitsu-operated blocks. The deal marks the first oil and gas project that Aker Solutions is working with Idemitsu in the Asia Pacific as well as its maiden venture into the Vietnam market.

When the FEED is completed, Idemitsu Oil and Gas will make an investment decision on the Vietnamese offshore project.

"We are pleased with the opportunity to for the first time work with Idemitsu Oil and Gas in such an important emerging market as Vietnam ... This will further strengthen our reach in Asia after building an important regional base in Malaysia," Aker Solutions CEO Luis Araujo said in the press release.

Aker Solutions will execute the project, which at its peak will involve about 100 engineers, designers and drafters, out of its regional hub in Kuala Lumpur, Malaysia.

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