Norwegian oil service firm Aker Solutions said orders almost doubled in the second quarter as activity levels continue to ramp up.
Orders totalled £530 million during the three months, taking the firm’s backlog to £3.45 billion.
Most of the new contracts were for projects in Norway, including one with Equinor for field centre modifications at phase two of the Johan Sverdrup field.
Equinor also awarded the company a contract to deliver a module for the Troll A platform to help increase output at the field.
In the UK, Aker Solutions secured a three-year contract extension from Perenco for operations and maintenance services at its southern North Sea assets.
Second quarter revenues rose 17% to £590m.
The company expects full-year revenues to lift by about 10%.
Pre-tax net income totalled to £16.2m, up from £4.8m a year ago.
Aker Solutions chief executive Luis Araujo said: “While the market remains very competitive, activity is picking up as lower break-even costs and higher oil prices spur project sanctions.
“Our order intake in the quarter was almost double the same period a year earlier and we’re seeing high tendering activity in our main markets.”
He added: “This year, we’re seeing more studies and front-end work for larger and more complex projects than last year – a positive sign of more work to come.
“As we have already seen at Johan Sverdrup, Johan Castberg and Troll, early involvement puts us in a strong position to secure more work.”
Recommended for you
