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    AKSO   NO0010716582

AKER SOLUTIONS ASA

(AKSO)
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Aker Solutions Gets Contract From Petrobras for Subsea Work Offshore Brazil

11/18/2021 | 03:48am EST

By Dominic Chopping

Aker Solutions ASA said Thursday it has been awarded a substantial contract by Petroleo Brasileiro SA to provide a subsea production system and related services for the Mero 4 project offshore Brazil.

The energy-industry service provider defines a substantial contract as being valued at between 700 million and 1.2 billion Norwegian kroner ($80.0 million-$137.2 million), and said it will book the contract as order intake in the fourth quarter of 2021.

Aker Solutions' subsea manufacturing facility in Sao Jose dos Pinhais and its subsea services base in Rio das Ostras will carry out the main part of the work, it said.

Work is starting immediately, with installation scheduled to take place between 2023 and 2025, the company said.

The Mero field is operated under a production-sharing agreement with a consortium comprising Petrobras as the operator, in partnership with Shell Brasil, TotalEnergies SE, Cnooc Ltd. and China National Oil & Gas Exploration & Development Co., or CNODC. The consortium also has the participation of state-owned company Pre-Sal Petroleo SA as the manager of the production-sharing contract.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

11-18-21 0348ET

Stocks mentioned in the article
ChangeLast1st jan.
AKER SOLUTIONS ASA 2.70% 25 Real-time Quote.4.41%
PETROBRAS 0.94% 34.16 Delayed Quote.19.44%
WTI 0.58% 87.909 Delayed Quote.13.23%
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Analyst Recommendations on AKER SOLUTIONS ASA
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Financials
Sales 2021 29 109 M 3 256 M 3 256 M
Net income 2021 291 M 32,5 M 32,5 M
Net Debt 2021 3 665 M 410 M 410 M
P/E ratio 2021 41,2x
Yield 2021 0,62%
Capitalization 11 854 M 1 334 M 1 326 M
EV / Sales 2021 0,53x
EV / Sales 2022 0,44x
Nbr of Employees 14 888
Free-Float 44,9%
Chart AKER SOLUTIONS ASA
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Aker Solutions ASA Technical Analysis Chart | AKSO | NO0010716582 | MarketScreener
Technical analysis trends AKER SOLUTIONS ASA
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 24,41 NOK
Average target price 22,06 NOK
Spread / Average Target -9,65%
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Managers and Directors
Kjetel Digre Chief Executive Officer
Idar Eikrem Chief Financial Officer
Leif Arne Lang°y Chairman
Henrik Inadomi Executive VP-Legal, Compliance & Safeguarding
Lone F°nss Schr°der Director
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