Aker Solutions to Invest $87m for Expansion of Global Subsea Operations
27 April 2012
Norwegian oil services firm Aker Solutions will invest $87m for the expansion of its subsea manufacturing capacity.
The investment will be used to double the capacity of its manufacturing plants facilities in Port Klang in Malaysia and Tranby in Norway.
A new service base in Labuan, Malaysia, is also expected to open in July this year to support installed and future deepwater projects in the Asia-Pacific region.
Aker said that the expansion will facilitate market share growth of subsea production technologies, including subsea trees, control systems, pumps and work-over systems.
Around 80% of the investments will be made this year, including the purchase of new machines, equipment and tooling while balance investments are expected to be made in 2013 and 2014.
Aker Solutions has two other subsea service bases in the Asia Pacific region; one is located in Perth, Australia, and the other in Kakinada, India.