LNG

Norwegian-listed engineering company Subsea 7 SA said it would be going ahead with a substantial contract for the second phase of the Julimar-Brunello field development project linked to the supply of feed-gas to the Wheatstone LNG export plant in Western Australia operated by US major Chevron Corp.

Feb 8 (LNGJ) - Aker Solutions, the Norwegian energy and LNG engineering company, is getting back on track as it reported fourth-quarter net income of 178 million Norwegian crowns ($20.7M), up on the same three months a year ago. Aker’s full-year net income came in at 554M crowns ($64.45M) versus 239M crowns ($27.8M) in 2017. The company said its order backlog amounted to 35.1 billion crowns ($4 billion) and it forecast good times ahead for the industry.
    “We saw a record number of studies and front-end engineering work for larger and more complex projects than previous years, a positive sign of more work to come,” said Chief Executive Officer Luis Araujo. The company said tendering activity remained high in the main subsea and offshore markets. “Aker Solutions is currently bidding for contracts totaling about 45 billion crowns ($5.2Bln). About two thirds of this is in the subsea area and key projects are anticipated to be awarded over the next six to 12 months,” stated Aker.

Aker Solutions, the Norwegian energy project engineering and oil and gas services company seeking more LNG work in subsea, gas compression and floating facility design said its first-half order intake amounted to 14.3 billion Norwegian crowns ($1.76Bln), almost double the amount of a year ago.