OneSubsea

Aker Solutions ASA: Fourth quarter results 2023 - Solid performance, positioning for long-term profitable growth

Retrieved on: 
Thursday, February 8, 2024
NOK, Aker Solutions, Policy, Share repurchase, OneSubsea, Wind, Renewable energy

"We achieved solid revenue growth and improved profitability in the fourth quarter, and I am pleased with our overall results.

Key Points: 
  • "We achieved solid revenue growth and improved profitability in the fourth quarter, and I am pleased with our overall results.
  • We continue delivering good progress on our project portfolio while positioning the company for the future," said Kjetel Digre, chief executive officer of Aker Solutions.
  • In the fourth quarter, revenue increased to NOK 11.0 billion from NOK 8.3 billion in the same period last year, a 33 percent increase.
  • Aker Solutions secured orders worth NOK 14.6 billion in the quarter, which means a book-to-bill ratio of 1.4x for the period.

Aker Solutions ASA: Fourth quarter results 2023 - Solid performance, positioning for long-term profitable growth

Retrieved on: 
Thursday, February 8, 2024
NOK, Aker Solutions, Policy, Share repurchase, OneSubsea, Wind, Renewable energy

"We achieved solid revenue growth and improved profitability in the fourth quarter, and I am pleased with our overall results.

Key Points: 
  • "We achieved solid revenue growth and improved profitability in the fourth quarter, and I am pleased with our overall results.
  • We continue delivering good progress on our project portfolio while positioning the company for the future," said Kjetel Digre, chief executive officer of Aker Solutions.
  • In the fourth quarter, revenue increased to NOK 11.0 billion from NOK 8.3 billion in the same period last year, a 33 percent increase.
  • Aker Solutions secured orders worth NOK 14.6 billion in the quarter, which means a book-to-bill ratio of 1.4x for the period.

Aker ASA: Third Quarter Results 2023 - Net Asset Value of NOK 64.1 billion

Retrieved on: 
Friday, November 3, 2023
Aker Solutions, Oslo Stock Exchange, GAV, Aker ASA, China Agri-Industries Holdings, OneSubsea, NAV, AMSC, USD, Net asset value, UK Financial Investments, NOK, Renewable energy, Bank, Video game, Aker, Solstad Farstad

OSLO, Norway, Nov. 3, 2023 /PRNewswire/ -- The Net Asset Value ("NAV") of Aker ASA and holding companies ("Aker") was NOK 64.1 billion at the end of the third quarter 2023, up NOK 6.9 billion (or 12.1 percent) from NOK 57.2 billion at the end of the second quarter.

Key Points: 
  • OSLO, Norway, Nov. 3, 2023 /PRNewswire/ -- The Net Asset Value ("NAV") of Aker ASA and holding companies ("Aker") was NOK 64.1 billion at the end of the third quarter 2023, up NOK 6.9 billion (or 12.1 percent) from NOK 57.2 billion at the end of the second quarter.
  • "Looking back on an extraordinary third quarter through Aker lenses, we experienced strong operations and high activity across the portfolio as we continued to progress on our strategy.
  • Important strategic developments have taken place across the Aker portfolio in recent months, in-line with Aker's strategy and focus on long-term value creation.
  • Financial highlights - third quarter 2023:
    NAV of NOK 64.1 billion, up NOK 6.9 billion from NOK 57.2 billion at the end of the second quarter
    NAV per-share of NOK 862, compared to NOK 770 at the end of the second quarter
    GAV of NOK 73.1 billion, up NOK 6.8 billion from NOK 66.3 billion at the end of the second quarter
    Share price at NOK 659.5, an increase of 8.4 percent in the quarter.

Aker Solutions ASA: Third-Quarter Results 2023

Retrieved on: 
Monday, October 30, 2023
Aker Solutions, USD, EBITDA, Policy, Investment, OneSubsea, Government, NOK, Cryptocurrency, Renewable energy, Subsea technology

We have transitioned from having a stand-alone subsea business to becoming a co-owner in a world-leading subsea company," said Kjetel Digre, chief executive officer of Aker Solutions.

Key Points: 
  • We have transitioned from having a stand-alone subsea business to becoming a co-owner in a world-leading subsea company," said Kjetel Digre, chief executive officer of Aker Solutions.
  • With our solid order backlog and high tendering activity, Aker Solutions is well-positioned to capitalize on diversifying energy markets, including their longer-term structural changes," said Digre.
  • Aker Solutions remains highly selective in these markets, with sole focus on projects with balanced risk-reward profiles.
  • At this early stage, Aker Solutions expects revenues in these segments to grow by about 10 percent in 2024, with an EBITDA margin between 6 to 7 percent.

Aker Solutions ASA: Third-Quarter Results 2023

Retrieved on: 
Monday, October 30, 2023
Aker Solutions, USD, EBITDA, Policy, Investment, OneSubsea, Government, NOK, Cryptocurrency, Renewable energy, Subsea technology

We have transitioned from having a stand-alone subsea business to becoming a co-owner in a world-leading subsea company," said Kjetel Digre, chief executive officer of Aker Solutions.

Key Points: 
  • We have transitioned from having a stand-alone subsea business to becoming a co-owner in a world-leading subsea company," said Kjetel Digre, chief executive officer of Aker Solutions.
  • With our solid order backlog and high tendering activity, Aker Solutions is well-positioned to capitalize on diversifying energy markets, including their longer-term structural changes," said Digre.
  • Aker Solutions remains highly selective in these markets, with sole focus on projects with balanced risk-reward profiles.
  • At this early stage, Aker Solutions expects revenues in these segments to grow by about 10 percent in 2024, with an EBITDA margin between 6 to 7 percent.

SLB, Aker Solutions and Subsea7 Announce Closing of OneSubsea Joint Venture

Retrieved on: 
Monday, October 2, 2023
Technology, Oil, Gas, Consulting, Energy, Commercial Building & Real Estate, Maritime, Professional Services, Construction & Property, Transport, Environment, Sustainability, Software, Green Technology, Data Management, CO2, NYSE, Carbon, Multimedia, OneSubsea, Aker Solutions, Engineering, Fine chemical, Renewable energy, SLB

SLB (NYSE: SLB), Aker Solutions and Subsea7 announced today the final closing of their previously announced joint venture.

Key Points: 
  • SLB (NYSE: SLB), Aker Solutions and Subsea7 announced today the final closing of their previously announced joint venture.
  • The new business, which will adopt the OneSubsea name, will drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time.
  • View the full release here: https://www.businesswire.com/news/home/20230929052165/en/
    OneSubsea now comprises SLB’s and Aker Solutions’ subsea businesses, which include an extensive complementary subsea production and processing technology portfolio.
  • SLB holds a 70% equity stake in the joint venture, with Aker Solutions and Subsea7 holding 20% and 10% respectively.

SLB and Subsea Integration Alliance Awarded Contract for bp’s Cypre Project

Retrieved on: 
Tuesday, November 22, 2022
Engineering, Other Energy, Oil, Gas, Manufacturing, Commercial Building & Real Estate, Energy, Construction & Property, EPCI, 8-K, Engineering, OneSubsea, NYSE, SLB, Form 10-K, BP, Risk, Construction, Risk management, Cordia alliodora

SLB announced today an award to its OneSubsea business and Subsea Integration Alliance of a large contract by bp for its Cypre gas project offshore Trinidad and Tobago.

Key Points: 
  • SLB announced today an award to its OneSubsea business and Subsea Integration Alliance of a large contract by bp for its Cypre gas project offshore Trinidad and Tobago.
  • Subsea7, also part of Subsea Integration Alliance, will deliver the subsea pipelines for the project.
  • bps Cypre project is a prime example of our ability to harness the key strengths of Subsea Integration Alliance: Subsea7 with its expertise in executing complex EPCI projects and OneSubseas fast-track delivery of subsea production systems, said Subsea Integration Alliance Chief Executive Officer Olivier Blaringhem.
  • As one team, Subsea Integration Alliance amplifies subsea performance by helping customers to select, design, deliver, and operate the smartest subsea projects.

Kosmos Energy Awards Schlumberger Integrated Subsea Boosting System Contract

Retrieved on: 
Tuesday, July 26, 2022
Technology, Engineering, Manufacturing, Oil, Gas, Other Transport, Other Construction & Property, Energy, Maritime, Construction & Property, Transport, Environment, Software, Green Technology, Data Management, OneSubsea, Time, SLB, Subsea production system, U.S. Securities and Exchange Commission, Subsea (technology), EPCI, Kosmos Energy, NYSE, Odd job, 8-K, Intention, Risk, Form 10-K, Economics, Subsea 7, Gulf of Mexico, Technology, CO2, Engineering, LLC, Renewable energy, Risk management, Schlumberger

Through the EPCI contract, OneSubsea, the subsea technologies, production, and processing systems business of Schlumberger, will supply a subsea multiphase boosting system, topside equipment, and a 16-mile integrated power and control umbilical.

Key Points: 
  • Through the EPCI contract, OneSubsea, the subsea technologies, production, and processing systems business of Schlumberger, will supply a subsea multiphase boosting system, topside equipment, and a 16-mile integrated power and control umbilical.
  • We are delighted to be working with Kosmos Energy on the successful long-term development of the Odd Job field, said Don Sweet, director, Subsea Production Systems.
  • The system will be tied back to the existing facility, thereby achieving significant cost and energy savings, as well as reducing CO2 emissions, all while improving Kosmos Energys ultimate recovery.
  • As one team, Subsea Integration Alliance amplifies subsea performance by helping customers to select, design, deliver and operate the smartest subsea projects.

Hitachi Energy supplies world-breaking OceaniQ subsea transformers to OneSubsea for its subsea multiphase compression system

Retrieved on: 
Monday, July 11, 2022
Ormen Lange, Farm, Asgard, Industry, Automation, Operational technology, Harman Becker Automotive Systems, MVA, Ormen Lange (gas field), Corrosion, NYSE, OneSubsea, Shell, Digital Systems, Wind, ABB, History, Technology, Natural gas, SLB, Mobility, Growth, Efficiency, Robotics, Transformer, Renewable energy, Electric power industry, Nyhamna, Schlumberger

The transformers form part of a large contract awarded to Hitachi Energy for the supply of two subsea OceaniQTM transformers, two input transformers, two step-up transformers, and a common step-down distribution transformer.

Key Points: 
  • The transformers form part of a large contract awarded to Hitachi Energy for the supply of two subsea OceaniQTM transformers, two input transformers, two step-up transformers, and a common step-down distribution transformer.
  • The OneSubsea compression system will be powered and controlled from the Nyhamna onshore gas processing plant, which is 120 km from the subsea location.
  • "We are delighted to be collaborating with ABB and OneSubsea on this important project," said Bruno Melles, Head of the Transformer Business at Hitachi Energy.
  • Hitachi Energy's OceaniQ subsea transformer technology is also ideally suited for the connection of floating offshore wind farms to the grid.

Global Subsea Systems Market to Reach $14.1 Billion by 2026

Retrieved on: 
Monday, March 21, 2022
Well, CAGR, Siemens, Forecasting, Research, Environment, Manifold, Technology, EOR, SURF, Russian, Players, Marketing, Compression Systems, Robotics, Growth, Internet, TechnipFMC, Intelligence, Hydrocarbon, NPV, OneSubsea, NOV Inc., SAN, Adoption, McDermott International, Control system, Wave, FPSO Noble Seillean, Safety, Parker Hannifin, GIA, COVID-19, Christmas tree, Video game, Oil, Jumper, Sooke Flowline, Riser, Others

Subsea systems can be mainly grouped into two categories namely, Subsea Production Systems and Subsea Processing Systems.

Key Points: 
  • Subsea systems can be mainly grouped into two categories namely, Subsea Production Systems and Subsea Processing Systems.
  • Amid the COVID-19 crisis, the global market for Subsea Systems estimated at US$12.4 Billion in the year 2022, is projected to reach a revised size of US$14.1 Billion by 2026, growing at a CAGR of 3.5% over the analysis period.
  • The U.S. Market is Estimated at $1.7 Billion in 2022, While China is Forecast to Reach $962.3 Million by 2026
    The Subsea Systems market in the U.S. is estimated at US$1.7 Billion in the year 2022.
  • Growth momentum remains intact across Subsea Production Technologies vertical including SURF (Subsea Umbilicals, Risers, Flowlines); Subsea Trees; Subsea Control Systems; and Subsea Manifolds; as well as Subsea Processing Technologies vertical comprising Subsea Boosting Systems; Subsea Separation Systems; Subsea Injection Systems; and Subsea Compression Systems
    In the global Subsea Control Systems segment, USA, Canada, Japan, China and Europe will drive the 2% CAGR estimated for this segment.