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The Oil Exploration Projects in Norway’s Fields Involve Cutting-Edge Technology from Aker Solutions. The Company’s Brazilian Subsidiary Will Also Be Responsible for Part of the Agreements with Aker BP, Delivering Two Subsea Contracts.
For this Tuesday, (12/20), the multinational oil and natural gas company Aker Solutions has big news in the segment. The company has signed a total of seven contracts with Aker BP for the development of oil exploration projects in the Yggdrasil, Valhall PWP-Fenris, and Skarv Satellites fields in Norway. The new contracts are expected to generate around R$ 27 billion in new orders during the end of 2022, being essential for the company’s growth.
Aker Solutions’ Contracts for Oil Exploration Projects in Norway with Aker BP Will Be Essential for the Company’s Market Growth
The international oil and natural gas market is now witnessing yet another major exploration initiative following the contracts signed between Aker Solutions and Aker BP.
In total, seven contracts have been signed for the development of oil exploration projects in the Yggdrasil, Valhall PWP-Fenris, and Skarv Satellites fields in Norway.
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These agreements will generate more than R$ 27 billion in new orders for the company over the last quarter of 2022.
Thus, Aker Solutions will continue to expand its presence in oil projects not only in Norway but throughout Brazil, as the company’s subsidiaries will also partake in the ventures.
“This demonstrates that the Norwegian authorities’ temporary incentive program for new project activities is working as expected. It also proves that Aker Solutions is on the right track with our growth targets. Through these projects, we will have the opportunity to continue developing a more sustainable future, investing significantly in people, digitalization, yard facilities, and project resources,” said Kjetel Digre, CEO of Aker Solutions.
The oil exploration projects will be carried out using a partnership model with Aker BP. Thus, the Fixed Facilities Alliance, Modification Alliance, and Subsea Alliance companies will participate in the initiative, in addition to Subsea 7, Siemens Energy, and ABB Norway.
According to Aker Solutions, the key feature of the partnerships to ensure good project development is the significant proportion of local deliveries from the ventures.
The Company’s Subsidiary in Brazil Will Contribute Two Oil Exploration Contracts in a New Initiative with Aker BP
The multinational Aker Solutions has several subsidiaries around the world, and in Brazil, it is located in the city of São José dos Pinhais, Paraná.
Thus, the company’s national factory will also participate in the development of oil exploration projects signed with Aker BP.
The plant will be responsible for delivering subsea systems for the Yggdrasil and Skarv Satellites field projects in Norway.
In total, the Brazilian plant will deliver the following equipment: 47 vertical subsea trees, control system modules with Vectus 6.0 technology, topside control systems, slot and manifold models, wellheads, mooring and connection systems, and dynamic and static umbilicals.
According to Aker Solutions, the average global value of the subsea contracts is R$ 5.5 billion, and for the development of these two, the Brazilian subsidiary will have the support of the subsidiaries in Norway, the United Kingdom, and Malaysia.
Finally, the company will continue its digitalization project with Aker BP, Aker Solutions, Cognite, and Aize in all future exploration ventures.
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