Aker Solutions took in twice as many orders in the third quarter of 2018 compared to the same period last year amid “increasing signs of a market recovery”.
Orders totalled £550 million for the quarter, bringing the backlog to £3.36 billion.
Aker chalked up revenues totalling £610m and pre-tax profits of £21.7m for the three months. In the third quarter of 2017, revenues came to £505m, with pre-tax profits £17m.
The Norwegian firm said the outlook for oil services remained “competitive” and that pressure on pricing was still a factor.
Orders during Q3 included the extension of its UK North Sea maintenance and modifications contract with Point Resources.
Petrobras picked Aker to deliver a subsea production system at the Mero field development offshore Brazil.
In Angola, Aker Solutions secured a contract with BP to deliver brownfield services at their Greater Plutonio and PSVM fields.
China National Offshore Oil Corporation (CNOOC) awarded Aker Solutions a contract to deliver power umbilical systems to their Liuhua field.
Aker, which has a large presence in north-east Scotland, also signed a frame agreement with Equinor for current and future subsea projects.
During the third quarter, Aker won 33 front-end orders, bringing the total for the first three quarters of the year to 107.
The company said tendering activity is high and that it is bidding for contracts worth about £4.2bn.
About two-thirds of these are in the subsea area, where the company expects key projects to be awarded over the next six to 12 months, including in Brazil, the UK, Africa, Australia and Asia Pacific.
Chief executive Luis Araujo said: “Our order intake in the quarter more than doubled versus the same period a year earlier and we’re seeing high tendering activity in all our markets,
“A main development this quarter is that we are seeing increased order intake in key global markets such as China, Brazil and Angola, in line with our strategic ambitions.”
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