Aker Solutions has announced a joint venture with Schlumberger to enhance subsea services, supported by substantial financial performance and a strong market outlook.

Target Company Overview

Aker Solutions is a leading provider of integrated solutions, products, and services catering to the global energy industry. With a workforce of approximately 15,000 employees across more than 20 countries, Aker Solutions is dedicated to facilitating low-carbon oil and gas production as well as developing innovative renewable energy solutions. The firm emphasizes digital innovation and project execution to accelerate the transition towards sustainable energy production.

In the third quarter of 2022, Aker Solutions reported a revenue of NOK 10.0 billion, a significant rise from NOK 7.3 billion in the same period last year. The company achieved an EBITDA of NOK 749 million, yielding an EBITDA margin of 7.5 percent. As of the end of the quarter, Aker Solutions held a robust net cash position of NOK 3.5 billion, excluding lease liabilities, and a substantial order backlog of NOK 50.9 billion.

Industry Overview in Norway

The energy sector in Norway is characterized by a strong focus on sustainability and innovation. The nation's extensive experience in oil and gas extraction, coupled with its commitment to reducing carbon emissions, positions