Aker Solutions Wins Largest Ever Contract

Published at 09:19AM - 06/06/16

Aker Solutions has won a contract to deliver its largest-ever umbilicals system at the Zohr offshore gas field in the Egyptian part of the Mediterranean Sea.

The Norwegian oil services firm signed an agreement with Petrobel in Egypt, valued at over NOK 1 billion (£84.93 million), the company informed.

“Aker Solutions is building on its previous experience offshore Egypt to now deliver its largest-ever umbilicals project”, Aker Solutions Chief Executive Officer, Luis Araujo, said.

Aker Solutions Wins Largest Ever Contract

“We are very pleased to support Petrobel and Egypt on this important development”, the CEO added.

The contract will be booked over the second quarter of the year and comprises the delivery of 180 kilometres (111.84 miles) of steel tube umbilicals that will tie the Zohr subsea development to an offshore control platform.

The work will be headed by the Oslo-based subsea division of Aker Solutions and manufacturing is expected to commence immediately at the umbilicals plans located in Moss, Norway.

The umbilicals system is expected to be delivered by mid-April 2017.

Aker Ups Operations After A Slow Start

Petrobel is a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Eni and will be responsible for the development and operations at Zohr.

Over the past years, Aker Solutions has made a substantial investment in the Moss plant, which now counts on more than 20 years of experience in making the most advanced and complex umbilical systems, used to transport date, power and liquids between oil and gas installations on the seafloor and facilities onshore or on platforms.

The latest contract could be a sign of progress for the company, following a series of layoffs over the last six months.

In the beginning of this year, the firm had announced it would streamline one of its businesses in Norway, which could result in 900 jobs cut. In April, Aker also announced plans to cut 280 jobs in the UK.