NewsOil Services Firm Aker Solutions Raises 2023 Sales Outlook

Oil Services Firm Aker Solutions Raises 2023 Sales Outlook


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Norway-based Aker Solutions exceeded forecasted earnings and increased its 2023 sales outlook due to strong operational performance and healthy working capital generation. Aker also launched Aker Digital Alliance as a new business unit aimed at speeding the industry transition towards digitalization paradigms.

Aker Solutions anticipates its 2023 revenues to increase by approximately 30 percent compared to 2022 levels, with improved underlying EBITDA margins. They see increased activity from both customers and energy sector as global oil and gas supply is projected to remain constrained for some time while ambitions regarding renewable production and emission reduction drive investment growth.

Aker Solutions noted that tender activity is at an all-time high and anticipates its backlog will increase significantly over the coming months. Furthermore, Aker Solutions is experiencing strong umbilical demand at their facility on Mobile’s Theodore Industrial Canal; three contracts were received from Shell Offshore Inc for its Gulf of Mexico projects as well as from Chevron USA Inc for Nigeria’s Erha North phase 2 development.

Aker Solutions ASA provides engineering, design and subsea production systems to the oil and gas industry. Their offshore field design services range from concept studies through front-end engineering and subsea production systems; Aker Solutions serves international, national and independent oil and gas companies worldwide and is headquartered in Lysaker Norway.

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