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4-Traders Homepage  >  Equities  >  Oslo Bors  >  Akastor ASA    AKA   NO0010215684

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05/03 AKASTOR ASA : Q1 2017 results
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Aker Solutions ASA : Aker Solutions wins Svalin umbilical contract

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04/23/2012 | 09:39am CEST
"

We are very pleased to be awarded another contract on the Norwegian Continental Shelf and look forward to supporting Subsea 7 with this Statoil fast-track project.

"

Scope of work includes a six kilometre long control umbilical, connectors, engineering and project management.

"We are very pleased to be awarded another contract on the Norwegian continental shelf and look forward to supporting Subsea 7 with this Statoil fast-track project," says Tove Røskaft, executive vice president of Aker Solutions' umbilical business.

Management, engineering and procurement of the umbilical will be performed at Aker Solutions' headquarters in Fornebu, Norway. Manufacturing will take place in Moss, Norway.

Svalin is a fast-track oil field project located in the middle part of the North Sea, about eight kilometres southwest of the Grane field and 185 kilometres west of Haugesund. The water depth is approximately 120 metres.

In December 2011, Statoil awarded Aker Solutions the contract for engineering, procurement and construction of the subsea production system for the Svalin project. The contract value was approximately NOK 400 million.

Subsea umbilicals are deployed on the seabed to supply necessary controls and chemicals to subsea oil and gas wells, subsea manifolds and any subsea system requiring a remote control. The Svalin umbilical will be delivered in Q2 2013.

Aker Solutions' contract party is Aker Subsea AS.

ENDS

For further information, please contact:

Media:
Severin Roald, Vice President Communications, Aker Solutions. Tel: +47 22 94 55 23, Mob: +47 92 03 00 33, E-mail: [email protected]

Investor relations:
Astrid Thommesen Sæbø, Vice President Investor Relations, Aker Solutions. Tel: +47 22 94 63 37, Mob: +47 48 17 00 35, E-mail: [email protected]

Suppliers:
For further information about sourcing and potential subcontracts for this project, please visit www.akersolutions.com/suppliers

Career opportunities:
Visit http://www.akersolutions.com/careers

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 23 500 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.

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Financials ( NOK)
Sales 2017 4 140 M
EBIT 2017 -306 M
Net income 2017 -470 M
Debt 2017 2 682 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 1,44x
EV / Sales 2018 1,08x
Capitalization 3 261 M
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 16,8  NOK
Spread / Average Target 42%
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Kristian Monsen Røkke Chief Executive Officer
Frank Ove Reite Chairman
Leif Hejø Borge Chief Financial Officer
Øyvind Eriksen Director
Sarah Elizabeth Ryan Director
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