Aker Solutions hits Idemitsu Oil and Gas contract
Aker Solutions has secured a contract from Idemitsu Oil and Gas Co., Ltd. to provide engineering services for the development of oil and gas resources in the Nam Con Son basin, offshore Vietnam.
This is the first time that Aker Solutions will partner with Idemitsu on a project in Asia Pacific, and it marks an expansion into a key new market, Vietnam. The nine-month contract is for front end engineering design (FEED) work for the Sao Vang and Dai Nguyet developments in the Idemitsu-operated Blocks 05-1b and 05-1c in the Nam Con Son basin.
“We are pleased with the opportunity to for the first time work with Idemitsu Oil and Gas in such an important emerging market as Vietnam,” said Luis Araujo, CEO of Aker Solutions. “This will further strengthen our reach in Asia after building an important regional base in Malaysia.”
The FEED outcome will be used by Idemitsu Oil and Gas to make an investment decision for the first phase of development at the Vietnamese basin.
For Aker Solutions, the project will, at its peak, involve about 100 engineers, designers and drafters out of the company’s regional hub in Kuala Lumpur.
Aker Solutions and ABB agreed to build on their combined strengths in subsea, power and automation technologies to develop solutions that will improve oil and gas production for the global energy industry.
The cooperation will integrate Aker Solutions’ pioneering subsea capabilities and ABB’s subsea power and automation system expertise to bring customers more effective, reliable and flexible oil and gas production solutions. It will enhance how production equipment on the seafloor is powered and controlled by applications on shore or platforms, lowering costs and enabling economically viable production at fields far offshore from existing infrastructure.
“This partnership builds on a relationship with ABB that already has a proven track record of developing groundbreaking subsea technology,” said Alan Brunnen, head of Aker Solutions’ subsea business. “Together we will now further hone our focus on developing technologies for greater and more sustainable hydrocarbon recovery and help customers reduce costs by making existing subsea solutions more effective.”
“Power and automation are crucial to improving the effectiveness of compression, boosting and other solutions for increasing oil and gas recovery from subsea fields,” said Peter Terwiesch, president of ABB’s process automation division. “This collaboration is part of our Next Level Strategy to engage in value-adding partnerships and will bring together the expertise and technology needed to help better serve customers and strengthen our subsea power and automation solutions.”