Aker Solutions ASA history, profile and corporate video
Aker Solutions ASA is a Norway-based supplier of oil field products, systems and services. Its business is organized in three segments. The Engineering Solutions segment provides concept and front-end studies to oil companies, as well as provides engineering services to large Engineering, Procurement and Construction (EPC) contractors. The Product segment delivers oilfield products for the upstream value chain, from reservoir to processing. Product categories include subsea, drilling, umbilicals, processing technology and mooring and loading equipment. The Field-Life Solutions segment consists of three operating entities, namely Maintenance, Modifications and Operations, Well Intervention Services and Oilfield Services and Marine Assets, and offers services, which increase oil and gas recovery from existing fields and extend the operating life of field assets. In February 2013, it acquired Managed Pressure Operations International, Ltd. and a majority stake in Enovate Systems Limited.”
“Aker Solutions History
Our history can be traced back to 1841. It started when Aker established a small mechanical workshop on the banks of the Aker river in Oslo, Norway. Shortly after, in 1853, Kvaerner Brug was founded nearby, and in the following decades, the two companies expanded, in accordance with the industrialisation of Norway and northern Europe.
Initially the main activities included shipbuilding, manufacturing components for machinery and equipment for clients in the iron and non-ferrous metals industries and shipping. Mechanical and marine engineering soon became the core of our business, and in the heydays of the steam engine, we supplied a wide range of companies, engaged in timber, wood and pulp, coal, hydropower, fisheries, and shipping.
Oil and gas
In the 1960s oil companies discovered oil and gas in the North Sea. Our engineers shifted focus and soon became pioneers in the development of this region, which remains the biggest single market for the offshore oil and gas industry today.
Our first involvement in the oil and gas industry was to convert and prepare existing offshore units for the harsh and difficult conditions the industry faced in the North Sea. We soon started developing our own solutions and the Aker H-3 drilling rig was one of the first. 40 years and dozens of units later, this is still one of the most celebrated rig designs and concepts in the industry.
Faced with the challenges of the North Sea, the oil industry had to come up with good, safe and reliable solutions for the development and operation of deepwater fields and difficult reservoirs. From the 1970s, we were a driving force in the development of subsea fields, floating production concepts, horizontal wells and increased oil recovery, to name a few.
In 2002 Aker Maritime took over Kvaerner, and the two companies joined forces to create a financially and industrially strong entity, with activities in oil & gas, engineering & construction, pulp & paper and shipbuilding, under the name Aker Kvaerner and with Aker ASA as a leading shareholder.
By 2007, we had divested our pulp and paper, shipbuilding businesses and concentrated on the oil and gas business, as well as providing process & construction for the downstream, chemicals and mining industries. The same year, Aker ASA and the Norwegian government entered an agreement to own jointly the controlling 40 per cent stake in the company.
In April 2008, we announced our new name: Aker Solutions. In 2011, we divested the process & construction business. The same year, the EPC contracting business was separated from Aker Solutions and listed on the Oslo Stock Exchange as Kværner ASA, bringing back the historical name.
Today Aker Solutions is one of the world’s leading providers of oilfield products, systems and services. Our knowledge and technologies span from reservoir to production and through the life of a field.
We are building our future on this heritage, but also on the capabilities and resources of the many people and companies who have since become part of Aker Solutions. Today we are approximately 28,000 people in about 30 countries on every continent, who all share the same values and the desire to deliver the best possible results for our customers.”
*Information from Forbes.com and Akersolutions.com
**Video published on YouTube by “akersolutions“