Aker Kvaerner Company News

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Kvaerner Sees Rising Revenues, Better Margins in 4Q
Friday, February 14, 2014Norwegian industrial group Kvaerner posted fourth-quarter earnings a touch ahead of expectations and says it expects revenues to rise this year even as competition remains intense.

Reliance Fires Up Gas Production from India's KG-D6 Block
Thursday, April 02, 2009Reliance has commenced gas production from the Dhirubhai 1 and 3 discoveries of the KG-d6 block in India's Krishna Godavari Basin.

Sonardyne Snags Life-of-Field Contract for Petrobras' Cascade, Chinook
Wednesday, February 18, 2009Sonardyne will supply an integrated acoustic positioning and telemetry system for Petrobras America's Gulf of Mexico Cascade Chinook field.

Lamprell's Revenue Up 29.3% in First Half of 2008
Monday, September 29, 2008Lamprell has announced its Interim Results for the six month period ended June 30, 2008. Revenue for the first half of 2008 was $318.2 million, a 29.3% increase from the corresponding period of 2007.

Sevan, Petrobras Finalize Contract for Newbuild Deepwater Rig
Tuesday, August 05, 2008Petrobras and Sevan Drilling's subsidiary have signed a firm drilling contract for a newbuild drilling unit intended for operations off the coast of Brazil. This is the second deepwater drilling unit contracted to Petrobras.

Aker Kvaerner Lands $223M in Subsea Work from Petrobras
Thursday, April 03, 2008Aker Kvaerner has signed a three-year frame agreement with Petrobras to supply subsea trees and related equipment in Brazil. The agreement is worth approximately US $223 million.

Aker Kvaerner Changes Its Name to Aker Solutions
Thursday, April 03, 2008Aker Kvaerner has changed its name to Aker Solutions. At the same time it launched its new logo and visual profile. "From today we are Aker Solutions. Our new icon and new name symbolise clarity, innovation and the drive to move forward."

Drilling Riser Contract Awarded To Aker Kvaerner
Tuesday, April 01, 2008Aker Kvaerner has won a contract for the delivery of a complete deepwater marine drilling riser system with buoyancy package and associated equipment.

Aker Kvaerner Streamlines, Integrates Ops with New Segment
Monday, March 31, 2008Aker Kvaerner launched an internal process that will lead to the creation of one, new business area that integrates the operations of its current Maintenance, Modifications and Operations business area (MMO) and Field Development business area (FD).

Ferguson Modular Awarded International Contracts
Tuesday, March 18, 2008Following a recent run of contract awards, five workspace modules are due to be mobilised worldwide from the firm's Inverurie manufacturing facility, at a combined rental value of over UK250,000.

Simtronics Receives Order for Expansion of GJOA Semi EPCH Project
Wednesday, February 20, 2008The expansion order has a value of more than U.S. $427,000.

New Vice-President at Aker Kvaerner Offshore Partner
Tuesday, February 19, 2008Mike Forbes, previously city-based Decommissioning Manager with Aker Kvaerner Offshore Partner, has succeeded Tore Nygaard in the role. Tore has taken up a new post with the group in Norway.

Aker Kvaerner to Expand and Relocate Fabrication Shop
Monday, February 18, 2008Aker Kvaerner Chemetics will be moved from Toronto to Pickering, Ontario. The new facility will provide higher and heavier lift capacity for larger equipment and will increase production.

Aker Kvaerner Appoints Subsea Aftermarket Boss
Friday, February 15, 2008Aker Kvaerner's Subsea business area has appointed Dave Hutchinson, 40, as its senior vice president for Aftermarket operations.

Aker Kvaerner Acquires 3D Drilling Simulation and Visualization Co
Thursday, February 14, 2008First Interactive AS is a software company specialising in 3D visualisation and simulation for the oil & gas sector. First Interactive has headquartered in Stavanger, Norway.

Aker Kvaerner Wins Contract for Modification of StatoilHydro Platform
Wednesday, February 13, 2008StatoilHydro has awarded Aker Kvaerner a contract for modifications of the Troll C platform. The object of the Troll low pressure production (LPP) is to facilitate increased oil recovery on Troll West called "long term production."

Aker Kvaerner Buys Finnish RR Offshore, Ends ST Holdings Partnership
Wednesday, February 13, 2008As part of the agreement, Aker Kvaerner sells its shares in the Astrakhan Korabel yard to ST Holding. The parties have agreed to not disclose any transaction values.

Aker Kvaerner and IHI JV Awarded $680M LNG Contract
Friday, February 08, 2008The joint venture of Aker Kvaerner and IHI, Inc. has been awarded a contract to provide engineering, procurement and construction for an onshore LNG import and regasification terminal in the U.S. Gulf Coast region valued at U.S. $680 million.

Aker Kvaerner Inks1st Subsea Contract with Repsol
Thursday, February 07, 2008Aker Kvaerner has been awarded its first subsea contract from Spanish oil company Repsol YPF. The deal is for the delivery of a subsea production system to the Montanzo and Lubina projects off the east coast of Spain.

Aker Kvaerner Wins $130 Million Contract for Ultradeep Drillship
Friday, February 01, 2008Aker Kvaerner has been awarded a drilling equipment contract by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) in Korea for an ultradeep drillship. The total contract value for Aker Kvaerner is approximately USD 130 million.

ExxonMobil Options for Another 2 Yrs. with Aker Kvaerner
Friday, January 25, 2008ExxonMobil exercised a two-year option in their term contract with Aker Kvaerner in Norway. The contract covers all ExxonMobil operated assets in the Norwegian Continental Shelf.

Lieungh New Aker Kvaerner Pres. and CEO, Aker Solutions New Name
Tuesday, January 22, 2008Simen Lieungh, a former Aker Kvaerner executive vice president and 20-year company veteran, has been appointed President & CEO of Aker Kvaerner ASA.

Aker Kvaerner Secures North Sea Agreement with Shell
Friday, January 18, 2008Aker Kvaerner has signed a five-year partnership agreement with Shell U.K. Limited and A/S Norske Shell covering the provision, installation, commissioning and life-of-field support of subsea control systems in the North Sea.

Aker Kvaerner Pens 2 Contracts with Daewoo for Drilling Riser
Thursday, January 17, 2008Aker Kvaerner takes further strides into the booming Asian market by signing two contracts with Daewoo Shipbuilding & Marine Engineering (DSME).

Borge Assumes CFO Post at Aker Kvaerner
Monday, January 07, 2008Mr Leif Borge, CFO, has accepted a position as CFO in Aker Kvaerner ASA and will for that reason leave Aker Yards at the end of his notice period. Recruitment of his successor has been initiated. Mr Borge has been CFO of Aker Yards since 2002.

Aker Kvaerner Contracts Prosafe Support Rig in North Sea
Thursday, December 27, 2007Prosafe has been awarded a contract by Aker Kvaerner Offshore Partner AS for the provision of the MSV Regalia accommodation and construction support rig at the Total E&P UK operated platform MCP-01 in the British sector of the North Sea.

Aker Kvaerner to Install Another North Sea Floater
Thursday, December 20, 2007StatoilHydro has awarded Aker Kvaerner a contract for tow and installation of the Gjoa Semi in the North Sea. The total contract value is approximately NOK 180 million.

Aker Kvaerner to Install FPSO at Skarv Field
Wednesday, December 19, 2007BP Norway has awarded Aker Kvaerner a contract for tow and installation of a floating production storage and offloading unit. The FPSO will be installed at the Skarv field in the North Sea.

Petrobras Selects Aker Kvaerner Design for P-56 Platform
Tuesday, December 18, 2007Petrobras has selected an Aker Kvaerner design for the hull of their new semisubmersible production platform to be located offshore Brazil, at the Marlim Sul deepwater field development.

Aker Kvaerner Scores Major Brazilian Subsea Work
Friday, December 14, 2007Aker Kvaerner has been awarded two contracts from Petrobras to supply a total of three subsea manifolds for two of the Brazilian oil giant's projects offshore Brazil.

Aker Kvaerner Celebrates MultiBooster Success
Wednesday, December 05, 2007Aker Kvaerner celebrates the success of the company's MultiBooster pump technology that is now operational at BP's King field in the Gulf of Mexico.

Aker Kvaerner Gives a Financial Update
Friday, November 30, 2007For the top line revenues, Aker Kvaerner expects a flat development in 2008 compared to 2007, and an annual growth of 8-10% for 2009 to 2010.

Aker Kvaerner Secures Pluto Umbilical Deal
Friday, November 30, 2007Aker Kvaerner has been awarded a contract to supply steel tube umbilicals to Woodside Petroleum's Pluto field. The contract is worth approximately NOK 105 million.

Aker Kvaerner to Provide Subsea Services for StatoilHydro's Morvin Field
Thursday, November 29, 2007StatoilHydro has awarded Aker Kvaerner a contract for the engineering, procurement and construction of a complete subsea production system for the Morvin field in the Norwegian Sea.

Aker Kvaerner Signs Deal with Aker Oilfield Services
Wednesday, November 28, 2007Aker Kvaerner has signed a letter of intent with Aker Oilfield Services and is set to expand its subsea service offering by providing equipment and personnel to the world's first deepwater Subsea Equipment Support Vessel.

Aker Drilling Revises Delivery Schedule for Aker H-6e Rigs
Wednesday, November 28, 2007Aker Kvaerner has informed Aker Drilling that the two Aker H-6e drilling rigs currently under fabrication will have a revised delivery schedule.

Aker Kvaerner Signs Subsea Frame Agreement with Woodside
Thursday, November 22, 2007Aker Kvaerner has signed a frame agreement with Woodside Pto become the Australian oil and gas giant's preferred supplier of steel tube umbilicals.

Aker Kvaerner to Supply Drilling Equipment to CNOOC
Friday, November 16, 2007Aker Kvaerner has signed two new contracts with CNOOC to provide drilling riser system and associated equipment and delivery of mooring equipment to a new deepwater semi submersible drilling unit.

Daewoo Awards Drilling Equipment Contract to Aker Kvaerner
Friday, November 09, 2007Aker Kvaerner has been awarded two drilling equipment contracts by Daewoo for a total of US $213 million.

Aker Kvaerner Inks Double Drilling Riser Deal
Monday, October 29, 2007Aker Kvaerner has signed contracts for the delivery of two complete drilling riser systems and associated equipment.

Aker Inks Breakthrough Subsea Contract
Wednesday, October 24, 2007Petrobras has awarded Aker Kvaerner a contract to supply subsea power cables and control umbilicals to its Cascade and Chinook fields in the Gulf of Mexico.

Aker Reports Strong Third Quarter 2007
Tuesday, October 23, 2007Aker's third quarter revenues hit strong with an increase of NOK 14,237 million, an increase of 18% compared with the same period last year.

Aker Confirms Expansion of the GJOA Semi EPCH Project
Tuesday, October 23, 2007Simtronics has received confirmation from Aker Kvaerner for the second expansion of the GJOA Semi EPCH project.

Scana Provides Gjoa Steel
Friday, October 12, 2007Scana Steel Stavanger will, together with Vulcan Sheffield Forgemasters, supply cast steel inserts for the Gjoa semisubmersible production rig that is being built by AkerKvaerner.

Gjoa Umbilicals Contract to Aker Kvaerner
Monday, September 24, 2007Aker Kvaerner has signed a contract with Statoil for the manufacturing and supply of steel tube umbilical control cables for the Gjoa field in the North Sea.

Aker Kvaerner Wins More Skarv Work
Thursday, September 20, 2007BP has chosen Aker Kvaerner to perform the detail engineering, procurement and construction management assistance (EPcma) for the Skarv field development in the Norwegian Sea.

Aker Kvaerner Deepwater Completes Blind Faith Platform
Tuesday, September 11, 2007Aker Kvaerner has successfully completed the semisubmersible hull for Chevron's Blind Faith platform. The Blind Faith platform was the first use of Aker Kvaerner's deep draft semisubmersible (DDS) concept.

Aker Kvaerner Wins Work in Cuu Long Basin
Thursday, September 06, 2007Aker Kvaerner has been awarded a five year contract by Cuu Long Joint Operating Company (CLJOC) for the supply and installation of surface wellheads and valve trees in the Vietnamese Cuu Long Basin.

Aker Kvaerner Finalizes Wirth Acquisition
Wednesday, September 05, 2007Aker Kvaerner has completed the transaction to acquire 50% of the shares of Wirth. Wirth will not be integrated with Aker Kvaerner MH.

MB Inspection and Aker Kvaerner in North Sea First
Wednesday, September 05, 2007MB Inspection has just completed the removal and replacement of the top section of the flare tower on BP’s Magnus platform - believed to be the first time this has been done in the North Sea.