Presentation

Aker Solutions is an integrated supplier of engineering, construction, products and services to the global energy industry. The company has completed multiple transformations the recent decade, most recently trough the spin-off of Aker Offshore Wind and Aker Carbon Capture and re-merger with Kværner in 2020. The company is headquartered in Oslo and currently has around 15,000 employees.

The company is organized in three reporting segments, each constituting about one third of revenue in 2019-20. The Renewables and Field Development segment delivers complete oil and gas platforms, onshore facilities, decommissioning and marine operations. The segment also designs and delivers solutions for offshore wind, hydrogen and CCUS. The Electrification, Maintenance and Modifications segment provides a full range offering of maintenance and modification services, including electrification to enable low-carbon oil and gas production. The segment also provides hook-up and installation services for offshore topsides, as well as late-life and decommissioning activities. Finally, the Subsea segment provides subsea systems and field infrastructure, with a broad product offering. The segment also provides extensive life-of-field services.

As of Q2’21, about 30% of the company’s backlog is related to energy transition activities, including low carbon solutions for oil and gas production. Of this about half is related to the Janz-Io subsea compression project off Australia, with the remainder related to carbon capture and offshore wind projects. The company expects to grow within these sectors, which currently account for about 25% of active tenders