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Aker Solutions ASA (OSL:AKVER) 16 September 2008 - Aker Solutions is investing into its Brazilian operation in order to increase manufacturing capacity ahead of the future wave of subsea developments in the Brazilian pre-salt layer.
Aker Solutions will make significant investments into the company's manufacturing plant for subsea trees in Curitiba, Brazil. This investment will double today's production capacity for subsea trees by year 2010.
"We are doubling our manufacturing capacity to capitalise on the huge growth in the Brazilian market and to provide an even better service to key customers such as Petrobras," says Marcelo Taulois, president of Aker Solutions' subsea business area in Brasil. "We have always had focus on local manufacturing and the development of local suppliers. This latest investment shows that we are continuing along that strategy and are dedicated to the continous development of the Brazilian oil and gas industry."
Over the past three years, the Subsea business area of Aker Solutions has invested almost USD 30 million in Brazil. This has helped generate some USD 500 million in orders in recent years. Some of the current projects are frame agreements with Petrobras, as for the delivery of 45 deepwater subsea trees (USD 223 million), delivery of manifolds to Petrobras (USD 60 million), and four contracts for drilling riser systems to Queiroz Galvão Óleo e Gás S.A., worth a total of USD 140 million.
Marcelo Taulois, president Aker Solutions' subsea business area in Brasil, + 55 (41) 3227-8402. Fernanda Bacelar, communication officer, Aker Solutions in Brazil, + 55 (41) 3227-8466
Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.
Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 24 000 people in about 30 countries.
Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
