2013-01-07 12:03:38 -
7 January 2013 - International oil service group Aker Solutions strengthens its
commitment to the Canadian oil and gas market through taking full ownership of
Newfoundland and Labrador-based AKCS Offshore Partner.
"The buy-out will support Aker Solutions' growth plans in North America and be
the foundation for further expansion in St. John's and Atlantic Canada. This is
a firm commitment from Aker Solutions to continue to invest in this region to
offer the best possible support to our customers," says Tore Sjursen, head of
maintenance, modifications and operations (MMO) in Aker Solutions.
AKCS Offshore Partner was a partnership formed by Aker Solutions, SNC-Lavalin
and G.J Cahill & Co. in 2002 to pursue contracts for the Atlantic Canada oil and
gas industry. The partnership has been offering maintenance, modifications and
"We will continue to deliver engineering services for maintenance and
modification projects offshore Canada. Further, this move enables us to expand
local project management capacity to support all Aker Solutions businesses in
the region," says Erik Wiik, Aker Solutions' regional president for North
AKCS Offshore Partner, which is based in St John's, Newfoundland and Labrador,
has 48 employees. All personnel currently employed by the partnership will be
given the opportunity to pursue a career in Aker Solutions.
The financial details of the buy-out are undisclosed.
In November 2012 Aker Solutions announced the acquisition of St John's-based
asset integrity company Thrum Energy Inc. Following the acquisition of Thrum
Energy Inc and buy-out of AKCS Offshore Partner, Aker Solutions employs more
than one hundred people in St. John's. The company is also present in Calgary,
"Our company's heritage lies within harsh and arctic offshore environments, so
further growth in the Atlantic Canada market is a good strategic fit for Aker
Solutions," adds Tore Sjursen.
For further information, please contact:
Endre Johansen, VP Corporate Communications, Aker Solutions. Tel:
+47 22 94 58 91, Mob: +47 41 61 06 05, E-mail: email@example.com
Lasse Torkildsen, SVP Investor Relations, Aker Solutions ASA. Tel:
+47 67 51 30 39, Mob: +47 911 37 194
For further information about sourcing and potential subcontracts for this
project, please visit www.akersolutions.com/suppliers
Aker Solutions provides oilfield products, systems and services for customers in
the oil and gas industry world-wide. The company's knowledge and technologies
span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas
drilling, field development and production. The company employs approximately
25 000 people in more than 30 countries. They apply the knowledge and create and
use technologies that deliver their customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a
number of separate legal entities. Aker Solutions is used as the common brand
and trademark for most of these entities. In 2011 Aker Solutions had aggregated
annual revenues of approximately NOK 36.5 billion. The company is listed on the
Oslo Stock Exchange.
This press release may include forward-looking information or statements and is
subject to our disclaimer, see www.akersolutions.com.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aker Solutions ASA via Thomson Reuters ONE