The subsea segment of the oil and gas industry is growing rapidly and is expected to develop exponentially over the next few years. Of Aker Solutions' 23 500 employees almost 7000 are employed within the subsea business, a number which is set to increase due to this expansion.
These planned investments are a response to a wave of existing orders and recognition of the growing market demand. Aker Solutions ability to serve its current and future clients will be improved and this development will facilitate market share growth within subsea production technologies, including subsea trees, control systems, pumps and work-over systems.
The investments include the addition of brand new machines and a physical expansion of the facilities in Port Klang, Malaysia, and Tranby, Norway. The new service base in Malaysia will support projects in the Asia-Pacific region.
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- The subsea market has strong fundamentals and this steady growth is expected to continue. We are now preparing for expansion in all markets and regions and these investments give us great momentum. They will also increase our capability to serve our clients and our ability as their preferred partner, says Alan Brunnen, executive vice president of Aker Solutions' subsea business area.
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Approximately 80 percent of the investments will be made this year, including the purchase of new machines, equipment and tooling.
The remaining investments will continue throughout 2013 and 2014.