Aker Solutions supplies integrated solutions, products and engineering services to the global energy sector. The company offers low-carbon oil and gas solutions and develop renewables solutions.
Aker Solutions is listed on the Oslo Stock Exchange and employs about 11,000 people in 15 countries. The company is headquartered at Fornebu, Norway.
Aker’s ownership agenda
Aker’s ownership agenda is about further developing Aker Solutions as a digitally driven engineering business and supplier company in the energy services sector. The oil and gas sector is currently the main foundation for Aker Solutions’ business. However, the ambition is to contribute to accelerate the transition to more sustainable energy production over time. A key priority for the company going forward will be to secure solid and predictable execution of the record-high order backlog, in order to deliver the projects on time and within budget. In this work, the aim is also to secure incentives through strategic alliance models with its customers. Aker is also an actively supporting further operational improvements and increased cost-efficiency in the company, as well as for the company to continue taking a selective approach to new tenders. Aker Solutions operates in a cyclical industry, and it is important for Aker, as a shareholder, that the company maintains financial robustness to handle this cyclicality. Financially, it is also important for Aker that the company maintains a predictable dividend policy over time.
Aker owns 39.41 per cent of the shares in Aker Solutions. Øyvind Eriksen (Deputy Chairman) and Kjell Inge Røkke (Director) represent Aker on Aker Solutions' Board of Directors.
Accelerating the transition to sustainable energy production
Aker Solutions offers low-carbon oil and gas solutions and develop renewables solutions. Powered by technology and digital solutions, strategic partnerships, knowledge and experience, Aker Solutions works to accelerate the transition towards a sustainable energy production. While delivering complex energy projects in a safe, predicable, and sustainable manner, Aker Solutions also continuously work to meet future energy needs.
Advanced user of technology and industrial software
Aker supports Aker Solutions' ambition to help accelerate the transition to more sustainable energy production. The company’s main focus areas remain engineering services and oil services. Growth will take place within renewable energy, electrification, and as a supplier to aquaculture facilities, carbon capture projects and low-emission solutions. Aker Solutions is on-track to deliver on its 2025 and 2030 ambitions of deriving one-third and then two-thirds of our revenues from deliveries to renewables and transitional energy solutions.
Aker Solutions is committed to be a supplier that accelerates the transition to sustainable energy production
Subsea Joint Venture
In August 2022, Aker Solutions announced that it has entered into agreements to form a subsea Joint Venture (JV) with Schlumberger and Subsea 7. The intention is to deliver a step change in subsea production economics by helping customers unlock reserves, reduce time to first oil and lower development costs while simultaneously delivering on their decarbonization objectives.
Through the transactions, Aker Solutions will receive USD 700 million in consideration for the sale of a 20 % ownership in the JV and retain a 20 % ownership in the subsea JV. The JV will have approximately 9,000 highly skilled employees globally. Estimated synergy potential is more than USD 100 million per annum in the medium term, and the JV will have an attractive dividend policy.
Following the transactions, Aker Solutions will be better placed to deliver on its strategy to accelerate its transformation to meet global energy needs both within oil and gas and renewables. Enabled by Cognite’s data platform and Aize’s software applications, Aker Solutions will continue to grow as a digitally empowered engineering and project execution company servicing the energy market.
For further details, please see: