Annual report 2008 - Aker Solutions

Our business
Anticipating change
Oil production and demand 1
Million barrels per day
120
100
OPEC spare capacity
Global demand
80
60
40
20
Production
Declining production
Dhirubhai 1. Aker Floating Production’s
FPSO over the MA-D6 field.
0
1980 1985 1990 1995 2000 2005 2010 2015 2020
In India, Aker Solutions and sister company
Aker Floating Production celebrated
first oil from the country’s first offshore
field. Aker Solutions delivered the subsea,
process control and mooring systems,
delivering to both the field and the FPSO
Dhirubhai 1,which is owned by Aker Floating
Production. Oil demand in India is forecast
to be the fastest growing in the world over
the coming two decades, and the country
is putting alot of effort into boosting its
own energy production, making it avery
interesting opportunity for Aker Solutions.
Harsh environments: more presence,
less impact
Aker Solutionsisaninternational company
with aglobal reach. We are taking the lead
in arange of significant developments with
one common denominator: harsh environments
in cold climates.
From Russia to Canada, northern areas
are becoming increasingly important. In
Aker Solutions, with our vast experience
from the Norwegian Continental Shelf, we
are used to thinking about tough weather
conditions when we plan projects and
“Our goal remains to
be our customers’
preferred partner by
delivering the
products and
services they need
through their entire
lifecycle”
create new structures. Agood example is
the pair of H-6e (or H-6 extreme) rigs that
Aker Solutions is delivering to Aker Drilling
in 2009. They are the largest, most
advanced drilling rigs in the world,
designed and built especially to work in
the challenging conditions of the oceans’
deep water and arctic regions.
The design of the H-6e also highlights
another very important trend: it is azero
emissions unit. As we move into these new
territories, it is vital that we strive to further
minimise the impact of new developments
on their surroundings. We benefit from this
increasing environmental focus because
we are atechnology company -and the
operators of these fields want the very
best environmental technology.
In addition to fuelling high exploration
activity, the need for more oil has also
driven demand for increased oil recovery
(IOR) technologies, to produce more from
existing fields. We see no signs of this
trend diminishing.
Meeting the changing needs ofour
customers
In 2008 we further enhanced our portfolio
of technology services and products both
through restructuring and through completing
aseries of strategically important
acquisitions. The integration of our marine
operations, well intervention and geological
consulting offerings into our Subsea
business area, in combination with our
ownership and cooperation with Aker
Oilfield Services, means we can offer a
more focused portfolio of lifecycle and
IOR products and services, including our
extensive well intervention offering – a
unique one-stop-shop for subsea fields.
In our Products &Technologies business
area, we have consolidated our drilling
risers and equipment activities with topside
technology products and services.
Together with an enhanced IOR offering,
this will better service customers worldwide
with the equipment and services they
require, onshore and above the waterline.
Our customers increasingly focus on
the development and maintenance of their
fields as one large, integrated operation.
Therefore, in 2008 we brought together
our existing Field Development and
Maintenance, Modifications and Operations
business areas to create Energy
Development & Services, increasing our
capacity to serve our customers through a
larger and more flexible pool of engineers.
We have also refocused our Process &
Construction business area, bringing
together Aker Solutions’ energy, process
and related construction activities to
achieve greater synergies and better
resource utilisation. We see continued
market potential in South America, India
and China with key global customers. China
is expected to continue as the main driver
for petrochemical process investments and
the emphasis in metals and mining will
remain on Australia and South America.
Aker Solutions has made these organisational
changes to reflect the changing
demands we see coming in the energy and
process industries. We believe adapting to
these trends secures our medium- and
long-term outlook, in atime of short-term
uncertainty.
Our goal remains to be our customers’
preferred partner by delivering the products
and services they need through their
entire lifecycle –from feasibility study to
operations and beyond.
1) IEA 2008 World Energy Outlook
2) Douglas-Westwood: the world offshore oil and gas
production and spend forecast 2008-2012
3) www.statoilhydro.com
Aker Solutions annual report 2008 43