August 02, 2014 3:41 AM ET

Energy Equipment and Services

Company Overview of Aker Oilfield Services AS

Company Overview

Aker Oilfield Services AS provides subsea well intervention operations related services worldwide. It offers subsea installation, riser less well intervention, riser well intervention, light drilling, and hardware and software services. The company was founded in 2006 and is based in Oslo, Norway. As of April 1, 2009, Aker Oilfield Services AS operates as a subsidiary of Aker Solutions ASA.

Karenslyst Allé 57

Oslo,  0277


Founded in 2006

Key Executives for Aker Oilfield Services AS

Chairman of the Board and President
Age: 48
Chief Financial Officer
Age: 45
Regional President of Norway
Age: 55
Regional President of Brazil
Age: 55
Regional President of North America
Compensation as of Fiscal Year 2014.

Aker Oilfield Services AS Key Developments

Total Cancels Skandi Aker Vessel Contract from Aker Oilfield Services

Aker Solutions subsidiary Aker Oilfield Services was notified by Total in Angola of the termination of a USD 250 million, two-year contract for the Skandi Aker vessel. Skandi Aker started operations as a well-intervention vessel for the first time in September last year when the contract with Total commenced. The value of the remaining contract period is about USD 150 million and will be removed from the order backlog. The vessel's capacity utilization has been 37% so far in 2014 after operations halted at the end of March for maintenance and repairs.

Aker Oilfield Services AS Signs a Contract to Provide Subsea Construction Services Offshore Brazil

Aker Oilfield Services AS has signed a contract to provide subsea construction services offshore Brazil. Contract value is undisclosed. An undisclosed customer will utilise Aker Oilfield Services' subsea construction vessel Aker Wayfarer for a period of 230 days. Start-up of operations is likely to be in May/June 2013, with mobilisation and de-mobilisation taking place in north-east UK.

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