Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Aker Solutions ASA
  6. News
  7. Summary
    AKSO   NO0010716582

AKER SOLUTIONS ASA

(AKSO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Aker : Wins Topside Modification Contract for ConocoPhillips' Tommeliten Alpha Development

09/10/2021 | 10:16am EDT

September 10, 2021 - Aker Solutions has been awarded a large1 topside modification contract by ConocoPhillips Skandinavia AS for Tommeliten Alpha, offshore Norway. Combined with previous subsea contracts for this field development, the contract award means Aker Solutions has been assigned an integrated responsibility for this field development.

The topside modification contract award follows final investment decision by the license partners and the completion of the front-end engineering and design (FEED) work, awarded in October 2020. The scope includes engineering, procurement, construction, and installation (EPCI) work for topside modifications on some Ekofisk installations, to tie-back and integrate the Tommeliten Alpha field development to the existing infrastructure.

The work will be led by Aker Solutions' offices in Fornebu and Stavanger, and includes construction work at the companies yard in Egersund, as well as offshore work at the Ekofisk Complex. Work starts immediately with planned completion in the third quarter of 2023.

"We look very much forward to working together with the field operator ConocoPhillips on this important field development. Aker Solutions has leading expertise in subsea solutions and topside modifications and we expect increased activity for tie-back projects moving forward," said Kjetel Digre, chief executive officer of Aker Solutions.

Aker Solutions was previously awarded contracts for the subsea production system as well as umbilicals and direct electrical heating (DEH) systems for Tommeliten Alpha. This means Aker Solutions, to date, has won contracts with a combined value of more than NOK 2.7 billion for this field development.

Tommeliten Alpha is a discovery in the southern part of the Norwegian sector in the North Sea, approximately 25 kilometers southwest of the Ekofisk field. The water depth is 75 meters. The discovery was proven in 1977. The reservoir contains a gas condensate fluid and lies at a depth of about 3,000 meters.

Aker Solutions will book about NOK 1.2 billion as order intake in the third quarter of 2021 in the Electrification, Maintenance and Modifications segment. 

The Tommeliten Alpha development is subject to final regulatory approval by Norwegian and UK authorities.

1Aker Solutions defines a large contract as being between NOK 1.2 billion and NOK 2.0 billion.

ENDS

Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email: torbjorn.andersen@akersolutions.com

Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com

Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 15,000 people in more than 20 countries.

Visit akersolutions.com and connect with us on Facebook, Instagram, LinkedIn, Twitter and YouTube.

This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Lars Kulsrud, Senior Manager, Communications, Aker Solutions, on September 10, 2021 at 16:15 CEST.

https://news.cision.com/aker-solutions-asa/r/aker-solutions-wins-topside-modification-contract-for-conocophillips--tommeliten-alpha-development,c3413353

(c) 2021 Cision. All rights reserved., source Press Releases - English

All news about AKER SOLUTIONS ASA
10/22ELKEM : Unveils First Carbon Capture Pilot Project for Smelters
MT
10/21AKER : Equinor Sign Contract To Design Topside For Norwegian Offshore Project
MT
10/21Aker Solutions Gets Contract for Work on Floating, Production, Storage and Offloading V..
DJ
10/20AKER : Wins FEED for Wisting FPSO
AQ
10/20Aker Solutions Wins FEED for Wisting FPSO
CI
10/19AKER CARBON CAPTURE : Teams Up With Viridor For New Carbon Capture Plants
MT
10/15AKER BP : Flags $150 Million Impairment Charge in Q3
MT
10/14AKER SOLUTION : DeepOcean and Solstad Offshore Create Offshore Renewables Alliance
AQ
10/14AKER : DeepOcean and Solstad Offshore Create Offshore Renewables Alliance
AQ
10/14SOLSTAD OFFSHORE : Aker Solutions and DeepOcean create offshore renewables alliance
AQ
More news
Analyst Recommendations on AKER SOLUTIONS ASA
More recommendations
Financials
Sales 2021 28 059 M 3 359 M 3 359 M
Net income 2021 210 M 25,1 M 25,1 M
Net Debt 2021 3 945 M 472 M 472 M
P/E ratio 2021 53,8x
Yield 2021 0,18%
Capitalization 11 150 M 1 332 M 1 335 M
EV / Sales 2021 0,54x
EV / Sales 2022 0,46x
Nbr of Employees 14 789
Free-Float 44,9%
Chart AKER SOLUTIONS ASA
Duration : Period :
Aker Solutions ASA Technical Analysis Chart | AKSO | NO0010716582 | MarketScreener
Technical analysis trends AKER SOLUTIONS ASA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 22,99 NOK
Average target price 19,60 NOK
Spread / Average Target -14,7%
EPS Revisions
Managers and Directors
Kjetel Digre Chief Executive Officer
Idar Eikrem Chief Financial Officer
Leif Arne Langøy Chairman
Hervé Valla Chief Technology Officer
Dean Watson COO & Executive VP-Subsea Lifecycle Services
Sector and Competitors
1st jan.Capi. (M$)
AKER SOLUTIONS ASA39.76%1 332
WORLEY LIMITED-2.44%4 394
OFFSHORE OIL ENGINEERING CO., LTD.10.24%3 428
SUBSEA 7 S.A.-9.49%2 833
TECHNIP ENERGIES N.V.0.00%2 822
LIBERTY OILFIELD SERVICES INC.45.59%2 676