Aker Kværner
Encyclopedia
Aker Solutions ASA is a Norwegian
multinational provider of services related to engineering
, construction
, maintenance
, modification
and operation
of both large and small industrial facilities
. The company, with roots back to 1841, has its headquarters in Oslo
and is listed on Oslo Stock Exchange
. Until 3 April 2008, the company was named Aker Kværner.
The company was created in 2004 as a merger between Aker Maritime
and Kværner Oil & Gas
in 2002. It was controlled by the Aker Group
until 2007, when a 40% stake was sold to Aker Holding
—owned by Aker ASA
(60%), the Norwegian Ministry of Trade and Industry
(30%), SAAB
(7.5%) and Investor
(2.5%).
, natural gas
, refining
and petrochemicals, mining
& metals and power generation industries. It has annual revenues of approximately NOK 58 billion and directly employ approximately 26 000 people in around 30 countries. Aker Solutions is part of Aker, a group of companies with activities in various sectors and markets.
s for new builds, maintenance and modifications for the upstream oil and gas industry. They deliver the full value chain from concept and feasibility studies, front-end design and detailed engineering through procurement, project management, fabrication and hook-up to installation, maintenance and modifications. They focus on developing new oil and gas production facilities offshore and on land, as well as lifecycle services for the operational phase of such installations.
Aker Qserv are a leader in the provision of well intervention services in the North Sea with an international presence. Revenues in 2009 were 210 Million GBP, of which approximately a quarter was outside the North Sea.
Aker Qserv are a provider of:
Well service,
Coil tubing services,
Pumping services,
Wireline services inclusing slickline, cased hole / tractor logging and heavy duty fishing,
Subsea well intervention,
Engineering services,
Pipeline services,
Precommissioning and commissioning services,
Flexible riser system testing,
Process services,
Helium leak detection,
Bolt tensioning and torquing,
Pipe freezing,
Nitrogen services,
Refrigerant recovery,
Hydrojetting,
Video inspection,
Chemical cleaning,
Oil flushing.
Aker Kværner is the result of a merger of Aker Maritime
and Kværner Oil & Gas in 2002, and later a restructuring resulting in the listing of Aker Kværner on 2 April 2004. In 2006, the company's paper pulping and power businesses were sold to Finnish-based Metso
in a deal worth €335 million. On 7 June 2007, an agreement was announced where a 40.1% stake of the company would be sold from Aker ASA to Aker Holding. The new company would be owned by Aker ASA
(60%), the Norwegian Ministry of Trade and Industry
(30%), SAAB
(7.5%) and Investor
(2.5%). On 3 April 2008 Aker Kværner officially changed its name to Aker Solutions. This was in part due to the difficulty that most non-Norwegian people found in pronouncing "Kværner".
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
multinational provider of services related to engineering
Engineering
Engineering is the discipline, art, skill and profession of acquiring and applying scientific, mathematical, economic, social, and practical knowledge, in order to design and build structures, machines, devices, systems, materials and processes that safely realize improvements to the lives of...
, construction
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...
, maintenance
Maintenance, Repair and Operations
Maintenance, repair, and operations or maintenance, repair, and overhaul involves fixing any sort of mechanical or electrical device should it become out of order or broken...
, modification
Modification
Modification may refer to:*Modifications of school work for students with special educational needs*Modifications *Posttranslational modifications*Mod *Modified car*Body modification*Grammatical modifier-See also:...
and operation
Operations management
Operations management is an area of management concerned with overseeing, designing, and redesigning business operations in the production of goods and/or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as little resources as needed, and...
of both large and small industrial facilities
Factory
A factory or manufacturing plant is an industrial building where laborers manufacture goods or supervise machines processing one product into another. Most modern factories have large warehouses or warehouse-like facilities that contain heavy equipment used for assembly line production...
. The company, with roots back to 1841, has its headquarters in Oslo
Oslo
Oslo is a municipality, as well as the capital and most populous city in Norway. As a municipality , it was established on 1 January 1838. Founded around 1048 by King Harald III of Norway, the city was largely destroyed by fire in 1624. The city was moved under the reign of Denmark–Norway's King...
and is listed on Oslo Stock Exchange
Oslo Stock Exchange
The Oslo Stock Exchange serves as the main market for trading in the shares of Norwegian companies. It opens at 9:00am and closes 5:30pm local time...
. Until 3 April 2008, the company was named Aker Kværner.
The company was created in 2004 as a merger between Aker Maritime
Aker Maritime
Aker Maritime is a defunct Norwegian petroleum industry supply company. Listed on the Oslo Stock Exchange it was controlled by Aker RGI, owned by Kjell Inge Røkke. The company was created in 1996 when Aker's oil and gas division was merged with Maritime Group...
and Kværner Oil & Gas
Kværner
Kværner was a Norway-based engineering and construction services company in existence between 1853 and 2005 when it was merged with Aker ASA. The Kværner name was used in the subsidiary Aker Kværner until April 3, 2008 when it changed name to Aker Solutions. Kværner re-emerged on 6...
in 2002. It was controlled by the Aker Group
Aker ASA
Aker ASA is a Norwegian holding company engaged in offshore fishing, construction and engineering. The company is listed on Oslo Stock Exchange and is controlled by Kjell Inge Røkke with 66.66% ownership through TRG Holding...
until 2007, when a 40% stake was sold to Aker Holding
Aker Holding
Aker Holding is a holding company that owns 40.27% of Aker Solutions. It manages the ownership of four major owners in the company, through a common agreement to insure negative control over the company.Ownership:*Aker ASA...
—owned by Aker ASA
Aker ASA
Aker ASA is a Norwegian holding company engaged in offshore fishing, construction and engineering. The company is listed on Oslo Stock Exchange and is controlled by Kjell Inge Røkke with 66.66% ownership through TRG Holding...
(60%), the Norwegian Ministry of Trade and Industry
Norwegian Ministry of Trade and Industry
The Royal Norwegian Ministry of Trade and Industry is a Norwegian ministry responsible for business, trade and industry. It is led by Trond Giske . The department must report to the legislature, Storting.-History:The Norwegian Ministry of Trade, Shipping, Industry, Craft and Fisheries was created...
(30%), SAAB
Saab
Saab AB is a Swedish aerospace and defence company, founded in 1937. From 1947 to 1990 it was the parent company of automobile manufacturer Saab Automobile, and between 1968 and 1995 the company was in a merger with commercial vehicle manufacturer Scania, known as Saab-Scania.-History:"Svenska...
(7.5%) and Investor
Investor AB
Investor AB is a Swedish investment company, founded in 1916 and still controlled by the Wallenberg family through their foundation asset management company FAM. The company owns a controlling stake in several large Swedish companies with smaller positions in a number of other firms. In 2006 it had...
(2.5%).
Operations
Aker Solutions delivers engineering and construction services, technology products and integrated solutions to the petroleumPetroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
, natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
, refining
Refining
Refining is the process of purification of a substance or a form. The term is usually used of a natural resource that is almost in a usable form, but which is more useful in its pure form. For instance, most types of natural petroleum will burn straight from the ground, but it will burn poorly...
and petrochemicals, mining
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...
& metals and power generation industries. It has annual revenues of approximately NOK 58 billion and directly employ approximately 26 000 people in around 30 countries. Aker Solutions is part of Aker, a group of companies with activities in various sectors and markets.
Energy development and services
Aker Solutions is a global provider of turnkey engineering and construction solutionSolution
In chemistry, a solution is a homogeneous mixture composed of only one phase. In such a mixture, a solute is dissolved in another substance, known as a solvent. The solvent does the dissolving.- Types of solutions :...
s for new builds, maintenance and modifications for the upstream oil and gas industry. They deliver the full value chain from concept and feasibility studies, front-end design and detailed engineering through procurement, project management, fabrication and hook-up to installation, maintenance and modifications. They focus on developing new oil and gas production facilities offshore and on land, as well as lifecycle services for the operational phase of such installations.
Process and construction
A global provider of management, design and construction of major projects across refining, petrochemical processing and biorefinery, mining and metals, liquefied natural gas (LNG), gas- and coalfired power generation, acid plants, nuclear cleanup services and water treatment. They provide the full lifecycle of services – from initial concept through technology development, process technology application, design, procurement, construction and commissioning to operations, maintenance, modification and decommissioning.Products and technologies
A global provider of specialised products and services to the upstream oil and gas industry, based on proprietary technology and know-how. Key deliverables include advanced drilling equipment, systems and risers, upstream processing technology and mooring systems, as well as loading and offloading technology.Subsea
A global provider across the value chain of subsea and sub-surface technologies, solutions and services. Their offerings cover all phases of the life of field, from concept screening and design through manufacturing and commissioning to operational support and maintenance services. Their activity as a provider of subsea production systems is backed by an "extensive portfolio" of additional capabilities such as well services, marine operations including installation, and geological services. Their capabilities are available for new and existing fields either as individual products and services or as complete EPCI deliveries.Well Services
On July 4th 2008, Aker Qserv entered into an agreement with Aker Solutions to become a wholly owned subsidiary of Aker Well Service AS. Aker Qserv is headquartered in Aberdeen and has facilities in the UK, Asia and West Africa.Aker Qserv are a leader in the provision of well intervention services in the North Sea with an international presence. Revenues in 2009 were 210 Million GBP, of which approximately a quarter was outside the North Sea.
Aker Qserv are a provider of:
Well service,
Coil tubing services,
Pumping services,
Wireline services inclusing slickline, cased hole / tractor logging and heavy duty fishing,
Subsea well intervention,
Engineering services,
Pipeline services,
Precommissioning and commissioning services,
Flexible riser system testing,
Process services,
Helium leak detection,
Bolt tensioning and torquing,
Pipe freezing,
Nitrogen services,
Refrigerant recovery,
Hydrojetting,
Video inspection,
Chemical cleaning,
Oil flushing.
History
Aker Maritime
Aker Maritime is a defunct Norwegian petroleum industry supply company. Listed on the Oslo Stock Exchange it was controlled by Aker RGI, owned by Kjell Inge Røkke. The company was created in 1996 when Aker's oil and gas division was merged with Maritime Group...
and Kværner Oil & Gas in 2002, and later a restructuring resulting in the listing of Aker Kværner on 2 April 2004. In 2006, the company's paper pulping and power businesses were sold to Finnish-based Metso
Metso
Metso Corporation was created in 1999 through the merger of Valmet and Rauma and is headquartered in Helsinki, Finland. Metso is a global supplier of process industry machinery and systems as well as know-how and aftermarket services...
in a deal worth €335 million. On 7 June 2007, an agreement was announced where a 40.1% stake of the company would be sold from Aker ASA to Aker Holding. The new company would be owned by Aker ASA
Aker ASA
Aker ASA is a Norwegian holding company engaged in offshore fishing, construction and engineering. The company is listed on Oslo Stock Exchange and is controlled by Kjell Inge Røkke with 66.66% ownership through TRG Holding...
(60%), the Norwegian Ministry of Trade and Industry
Norwegian Ministry of Trade and Industry
The Royal Norwegian Ministry of Trade and Industry is a Norwegian ministry responsible for business, trade and industry. It is led by Trond Giske . The department must report to the legislature, Storting.-History:The Norwegian Ministry of Trade, Shipping, Industry, Craft and Fisheries was created...
(30%), SAAB
Saab
Saab AB is a Swedish aerospace and defence company, founded in 1937. From 1947 to 1990 it was the parent company of automobile manufacturer Saab Automobile, and between 1968 and 1995 the company was in a merger with commercial vehicle manufacturer Scania, known as Saab-Scania.-History:"Svenska...
(7.5%) and Investor
Investor AB
Investor AB is a Swedish investment company, founded in 1916 and still controlled by the Wallenberg family through their foundation asset management company FAM. The company owns a controlling stake in several large Swedish companies with smaller positions in a number of other firms. In 2006 it had...
(2.5%). On 3 April 2008 Aker Kværner officially changed its name to Aker Solutions. This was in part due to the difficulty that most non-Norwegian people found in pronouncing "Kværner".