Aker Solutions Boosts Offshore Operations with New Contract
Aker Solutions Enhances Offshore Services in Brunei
PTAS Aker Solutions has successfully secured a substantial two-year extension for its brownfield services contract with Brunei Shell Petroleum (BSP). This achievement comes as a result of the customer exercising an option in the existing agreement.
About PTAS Aker Solutions
PTAS Aker Solutions is a joint venture that combines the expertise of Aker Solutions with the local knowledge of PTAS Sdn Bhd. This partnership enables the company to deliver tailored Offshore Restoration Maintenance Construction (ORMC) services to BSP efficiently and effectively.
Details of the Contract
This contract extension focuses on providing offshore maintenance and modification services, crucial for maintaining production levels in the South China Sea. PTAS Aker Solutions will take charge of the operational oversight from its office located in Kuala Belait.
Optimizing Operations
Paal Eikeseth, the Executive Vice President and head of Aker Solutions' Life Cycle Business, expressed enthusiasm about optimizing the delivery model during the contract period. The commitment to enhancing operational efficiency while driving cost reductions is at the forefront of their objectives.
A Legacy of Excellence
Aker Solutions originally secured the first ORMC contract with BSP in 2012 and renewed their contract in 2020 under the PTAS Aker Solutions banner. This long-standing relationship highlights their ability to intertwine local execution with Aker Solutions' vast international experience.
Future Implications and Importance
As the contract progresses, PTAS Aker Solutions will continue to play a vital role in supporting BSP's ambitions in offshore production. The order intake from this extension will be recognized in the second quarter of 2025 under the Life Cycle segment, reflecting Aker Solutions' commitment to meeting and exceeding its clients' expectations.
Frequently Asked Questions
What does the contract with BSP involve?
The contract involves providing maintenance and modification services for offshore production assets in the South China Sea.
Who is PTAS Aker Solutions?
PTAS Aker Solutions is a joint venture between Aker Solutions and PTAS Sdn Bhd, focusing on delivering specialized offshore services.
How long is the contract extension?
The extension is for a two-year period.
When will the contract be recognized in financial reports?
The contract will be booked as an order intake in the second quarter of 2025.
What is Aker Solutions’ approach to operational efficiency?
Aker Solutions emphasizes enhanced delivery models and cost reductions while maintaining quality and performance standards.
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